Urban League Works to Accelerate Northeast Ohio Black Business Growth

By Tom Breckenridge, WVXU

Business owner Terrell Dillard said his two companies "were busting at the seams" when he went out for a six-figure loan in 2022. The former banking executive knew the commercial lending landscape but didn't take the usual route. Instead, he turned to the Urban League of Greater Cleveland and its UBIZ Venture Capital fund.

Dillard knew the Urban League, and they knew him. Dillard once taught Urban League-sponsored classes to new business owners. He said he’s had long, fruitful relationships with the Urban League and its mainstays, including UBIZ President Michael Obi.

Dillard wanted to take his business to UBIZ rather than engage a mainstream banking industry that, studies show, disproportionately denies the financing needs of Black business owners.

“There are very unique challenges in the minority community that we have to deal with, no matter how much success we have,” said Dillard, who serves on boards at Team NEO, a regional economic development organization, and the Cuyahoga Community College Foundation. “And that's why I feel it’s important to keep organizations like the Urban League and UBIZ top of mind.”

 

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