Brown Announces Nearly $2 Million to the Urban League for Small Businesses

U.S. Senator Sherrod Brown (D-OH) announced that the United States Economic Development Administration (EDA) has awarded a $1.8 million CARES Act Recovery Assistance grant to the Urban League of Greater Cleveland, Inc. (Cleveland, OH) The grant will be used to administer a Revolving Loan Fund (RLF) and will provide gap financing to small businesses in Cuyahoga County who have been impacted by the coronavirus pandemic. This grant will be matched with $450,000 in local funds and is expected to retain 300 jobs, create 300 new jobs, and help generate over $3 million in private investment for the community.

“Small businesses are the engine of economic growth across communities in Ohio. These funds will provide the Northeast Ohio region with additional tools and resources to address the economic fallout from COVID-19,” said Brown. “While this pandemic has been a long, difficult, and often tragic time for so many small businesses, these funds will provide additional relief to keep workers employed and uplift Cuyahoga County’s economy.”

To read the full article, click here