During a recent government meeting, representatives from Village Capital Corporation (VCC) and Grow America presented their initiatives aimed at supporting minority-owned businesses in Cuyahoga County. The discussions highlighted the organizations' commitment to fostering economic growth and inclusion through targeted financial assistance and technical support.

Kwame Batchwe, the director of Community Impact and Innovation at VCC, detailed the organization's extensive history and impact, noting that VCC has invested over $120 million into local projects and leveraged an additional $1 billion in private capital. The organization focuses on improving community assets, supporting minority and women-owned contractors, and providing access to capital for small businesses. Their \"Grow You\" program, launched with initial funding from the county, aims to offer technical assistance and financial coaching to minority entrepreneurs, helping them navigate the complexities of business management and access necessary funding.

Batchwe emphasized the program's success, reporting that 80% of loans issued last year went to BIPOC-owned businesses. He also shared a success story of a flower shop owner who, with VCC's support, transitioned from reliance on high-interest loans to a more sustainable financial model, nearing bankability.

Following VCC's presentation, Mary Lauch from Grow America, formerly known as the National Development Council, outlined her organization's long-standing commitment to lending in marginalized communities. Since 2006, Grow America has facilitated over $39 million in loans to small businesses in Cuyahoga County, with a significant portion directed towards minority and women-owned enterprises. Lauch highlighted the organization's various lending programs, including the Grow Cuyahoga County Fund, which has provided larger loans averaging around $461,000, and the Community Impact Loan Fund, which has a strong focus on equity-building for small businesses.

Both organizations underscored the importance of community engagement and the need for continued support from local government to sustain their efforts in promoting economic equity. The meeting concluded with a call for collaboration among stakeholders to enhance the impact of these initiatives on the local economy.