Franklin County Offers Funding for Minority-Owned Small Businesses
Updated: Aug 31, 2020
New Equity Alliance Fund to Offer Grants to Those Left Out of COVID Relief
On August 4, Franklin County Commissioners announced a new initiative in partnership with the Columbus Urban League and One Columbus to approve assistance for minority-owned businesses that have largely been shut out of federal assistance during the pandemic.
“We now see just how disproportionate the federal aid has been...this is just another way we are committed to fighting systemic racism head on," says John O’Grady, President of the Franklin County Board of Commissioners.
This new $2 million in funding will be made available through grants for business stabilization, employee retention, and technology. It will also promote representation in high-growth industries and setting up a Community Development Financing Institution.
Commissioner Marilyn Brown said, "This is a critical time for businesses as they try to stay afloat in this pandemic, so we must make sure that all businesses have access to grants and loans now.” All three grants require the same criteria: businesses must be in existence and be able to demonstrate a “qualified business need” due to hardships caused by the coronavirus.
Aventi Enterprises can support your business in taking advantage of these funds. For more information on the application process, visit https://www.cul.org/initiatives/franklin-county-community-equity-fund/.