Council approves $90,000 small‑business boost grant to expand financial counseling for women entrepreneurs

Columbus City Council on April 1 passed an ordinance authorizing the Department of Development to accept up to $90,000 from the Cities for Financial Empowerment Fund (CFE) under a Small Business Boost pilot and to appropriate corresponding funds. The ordinance also authorizes a not‑for‑profit service contract of up to $30,000 with Jewish Family Services and $15,000 awards to multiple entrepreneurial support organizations.

Council members said the pilot will pair personal financial counseling with small‑business technical assistance to help women entrepreneurs access capital. Vice Chair Rosa de Padilla, presenting the item, said women‑owned businesses are an important and growing segment in the city: "Women owned businesses make up approximately 22% of all small businesses in the city of Columbus, representing $14,100,000 in total revenue and employing 28,761 members of our community," she said.

Hannah Reid, deputy director of development and executive director of the Women’s Commission, told council the pilot will allow entrepreneurial support organizations (ESOs) to refer participants to the city’s Financial Empowerment Center (FEC) so clients can receive counseling that addresses personal finances and business planning together. "As women become secure and stable in their personal finances, they will be better positioned to access the necessary capital and loans to launch their business," Reid said.

Council documents describe expected outcomes from the FEC: since inception, clients increased credit scores by an average of 36 points, increased savings by $755,000 and collectively reduced debt by about $1.8 million among nearly 1,000 clients.

The ordinance passed on voice vote during the second reading in committee and was recorded as passed by roll call.