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The original item was published from 4/23/2020 3:48:22 PM to 4/24/2021 12:00:03 AM.

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Posted on: April 23, 2020

[ARCHIVED] 4-17-20

Local Partners Come Together to Support Small, Neighborhood-Based Businesses in the First Small Business Coalition of Funders and Partners in the County

County Executive Armond Budish has committed $500,000 to the creation of a Small Business Stabilization Fund to support small, neighborhood-based businesses throughout Cuyahoga County during the COVID-19 pandemic. This Stabilization Fund complements Cuyahoga County’s Small Business Resource Center website, and its call center, which has received more than 375 calls from business owners.

Coalition of Founders & Partners

This is the first-ever small business coalition of founders and partners in the county. A coalition of local partners have come together to help make this plan a reality, including the KeyBank Business Boost and Build program powered by JumpStart, the Economic and Community Development Institute (ECDI), the National Development Council, Village Capital Corporation, the Urban League of Greater Cleveland, and the Greater Cleveland Partnership/Business Growth Collaborative. 

The total commitment between both grants and loans for the Stabilization Fund is over $4 million. Grant funds available total $500,000, and loan funds committed to date total more than $3.5 million. The fund is to be "administered" by ECDI in partnership with Cuyahoga County.

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