New fund will provide low-interest loans to minority businesses

The Urban League of Greater Cleveland will help administer a new loan program for minority businesses. In this 2015 photo Sam Byrd prepares to graduate from a job readiness program. (Lisa DeJong, The Plain Dealer)

The Urban League of Greater Cleveland will help administer a new loan program for minority businesses. In this 2015 photo Sam Byrd prepares to graduate from a job readiness program. (Lisa DeJong, The Plain Dealer)

By Karen Farkas, cleveland.com The Plain Dealer  

CLEVELAND, Ohio – A new $8 million fund will launch this fall to provide loans and assistance to minority businesses.

The Capital Access Fund of Greater Cleveland is a partnership of the city of Cleveland, Cuyahoga County, the National Development Council, the Urban League of Greater Cleveland, the National Urban League’s Urban Empowerment Fund, Morgan Stanley and other private local lenders and foundations.

The program aims to help at least 36 minority and female businesses within the first three years, creating 300 new jobs, the county said…

Click link below to read more:

http://www.cleveland.com/cuyahoga-county/index.ssf/2016/08/new_fund_will_provide_low-interest_loans_to_minority_businesses.html

 

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