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Stabilization Grant Program Assists 951 Small Businesses Affected by COVID-19 Crisis
Contacts:
Miranda Kortan: (216) 698-2546; mkortan@cuyahogacounty.us
Nearly Fifty Percent of Recipients are Minority-Owned Businesses
CUYAHOGA COUNTY, OH – Cuyahoga County announced today 951 small businesses have been selected to receive first and second round grants from the Cuyahoga County Small Business Stabilization Fund. Two-hundred businesses were selected from more than 3,000 applications to receive $2,500 grants each in round one. The application for round one was open April 17 through April 23. Seven-hundred and fifty-one businesses were selected from 1,900 applicants to receive grants in round two, with 502 businesses selected to receive $2,500 grants and 249 businesses selected to receive $5,000 grants. The application for round two was open May 8 through May 15.
“Due to the overwhelming response the County received for the first round of the stabilization grant funds, we launched a second round of grant funding,” said Cuyahoga County Executive Armond Budish. “These funds are helping small businesses to pay rent, pay employees, and just to stay afloat while they get back on their feet. I want to thank the ECDI, Jumpstart, Keybank, and the Cleveland Foundation for their important financial support of this fund.”
Small businesses receiving stabilization grants by industry include:
Small business owners can learn more about resources available to them by calling the Small Business Resource Center at 216-452-9714 or by visiting the Small Business Stabilization Fund Resource page on the Cuyahoga County website.
The Small business Resource Center and Stabilization Fund was developed in partnership with Keybank, ECDI, Jumpstart, The Urban League, National Development Council, Greater Cleveland Partnership/Business Growth Collaborative, Village Capital Corporation, President’s Council, Cleveland Neighborhood Progress, Greater Cleveland Partnership/COSE, Growth Opportunity Partners, HFLA of Northeast Ohio, Hispanic Business Center, MAGNET, and Ohio Means Jobs to support small, neighborhood-based businesses throughout Cuyahoga County during the COVID-19 pandemic.
Miranda Kortan: (216) 698-2546; mkortan@cuyahogacounty.us
Nearly Fifty Percent of Recipients are Minority-Owned Businesses
CUYAHOGA COUNTY, OH – Cuyahoga County announced today 951 small businesses have been selected to receive first and second round grants from the Cuyahoga County Small Business Stabilization Fund. Two-hundred businesses were selected from more than 3,000 applications to receive $2,500 grants each in round one. The application for round one was open April 17 through April 23. Seven-hundred and fifty-one businesses were selected from 1,900 applicants to receive grants in round two, with 502 businesses selected to receive $2,500 grants and 249 businesses selected to receive $5,000 grants. The application for round two was open May 8 through May 15.
“Due to the overwhelming response the County received for the first round of the stabilization grant funds, we launched a second round of grant funding,” said Cuyahoga County Executive Armond Budish. “These funds are helping small businesses to pay rent, pay employees, and just to stay afloat while they get back on their feet. I want to thank the ECDI, Jumpstart, Keybank, and the Cleveland Foundation for their important financial support of this fund.”
Small businesses receiving stabilization grants by industry include:
- Food industry - restaurant/bar: 218
- Personal care services and cosmetology: 182
- General contracting: 37
- Construction or Landscaping: 28
- Neighborhood healthcare: 25
- Manufacturing: 22
- Hospitality: 22
- Automotive: 15
- Information Technology: 11
- Logistics and distribution: 9
- Food industry - neighborhood grocer: 5
- Aerospace: 1
- Other: 372
Out of 951 grant recipients, approximately fifty percent are minority owned businesses.
Round one and round two business minority demographics include:
Minority Only:
- 160 Minority and Woman: 244
- Minority and Veteran: 13
- Minority and Disadvantaged Business Enterprise (DBE): 13
- Minority and Encouraging Diversity, Growth and Equity (EDGE) certified: 3
- Minority, DBE and EDGE: 1
- Minority, Veteran and Multiple: 31
- Minority, Woman and DBE: 15
- Minority, Woman and EDGE: 6
- Minority, Woman and Veteran: 7
- Minority, Woman and Multiple: 11
- Total Minority Owned Businesses: 475
See the chart below for the breakdown of business minority demographics by percentage.
The number of grant recipients by city are as follows:
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Small business owners can learn more about resources available to them by calling the Small Business Resource Center at 216-452-9714 or by visiting the Small Business Stabilization Fund Resource page on the Cuyahoga County website.
The Small business Resource Center and Stabilization Fund was developed in partnership with Keybank, ECDI, Jumpstart, The Urban League, National Development Council, Greater Cleveland Partnership/Business Growth Collaborative, Village Capital Corporation, President’s Council, Cleveland Neighborhood Progress, Greater Cleveland Partnership/COSE, Growth Opportunity Partners, HFLA of Northeast Ohio, Hispanic Business Center, MAGNET, and Ohio Means Jobs to support small, neighborhood-based businesses throughout Cuyahoga County during the COVID-19 pandemic.
