While most Clevelanders were finally finishing off the Thanksgiving leftovers, these organizations were busy announcing loans and programs aimed at helping area small businesses, entrepreneurs and employees with good ideas.
-A unique collaborative of organizations
and institutions has launched a small business lending program to help African American and minority businesses create and maintain jobs for residents and build community wealth. With a focus on bringing capital to underserved groups, the National Urban League’s Urban Empowerment Fund, Morgan Stanley, the National Development Council, the Urban League of Greater Cleveland, and Cuyahoga County have come together to offer the Capital Access Fund of Greater Cleveland (CAF).
CAF is a three-year program that provides minority business owners with access to capital offering 50 loans totaling $8 million as well as pre- and post-loan counseling to ensure the success of those small business borrowers. With a goal of creating or maintaining a minimum of 300 jobs within those three years, CAF already has completed 8 loans totaling $1.4 million helping to create or maintain 70 local jobs.
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-Bad Girl Ventures Cleveland
celebrated their fall 2016 graduation and five-year anniversary on November 30th
by awarding two $15,000 loans, in partnership with the Economic Community Development Institute (ECDI
), to the following women entrepreneurs: Liza Rifkin of Liza Michelle Jewelry
and Angelina Rodriguez Pata of Blackbird Fly Boutique
. Both are located in Ohio City.
-The MetroHealth System
hosted its second Think Tank Competition on November 30. Modeled after the ABC show Shark Tank, employees submitted their ideas for a chance to win money to fund projects for the betterment of MetroHealth. Two winners were awarded a cool $150,000 each.
Their projects include one aimed at the development of a strategic approach to reduce the risks of opioid dependence and addiction for patients and the community through integrated pathways, analytics, informatics, and education. The other will create a formal team/department to administer and coordinate all of event medicine needs.
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