Kaptur Announces $1.8 million in Federal Funding for the Urban League of Greater Cleveland
Washington, D.C. – Today, Congresswoman Marcy Kaptur (OH-09) announced $1.8 million in federal grant funding for the Urban League of Greater Cleveland awarded by the U.S. Economic Development Administration through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act allocated $1.5 billion for economic development assistance programs to assist communities and organizations impacted by the COVID-19 pandemic.
“The Urban League of Greater Cleveland is renowned for its work supporting minority-owned businesses through expert consulting, technical assistance, and relationship-building,” said Rep. Kaptur. “After the devastation wrought by COVID-19, this critical new funding will bolster ULGC’s efforts to reinvigorate our small business and entrepreneurial community, and propel Cleveland forward.”
The federal funding, awarded on July 22, 2021, will help establish a $2.5 million Revolving Loan Fund (RLF) to lend to small businesses and entrepreneurs throughout Cuyahoga County. Once implemented, the RLF will provide access to capital to help small businesses and entrepreneurs recover from the COVID-19 pandemic, which will promote job creation and retention, attract private investment, and enhance economic resiliency throughout the region.
For more information contact Chris Dalton at (202) 897-7438 or Chris.Dalton@mail.house.gov.