Huntington National Bank and the City of Cleveland announced a new effort to assist small businesses in growing and positively impacting the economy in the greater Cleveland region and surrounding regions. Huntington works with 11 nonprofit organizations in Cuyahoga, Lorain, and Ashtabula counties for the Entrepreneur in Residence Powered by Huntington program. The NGOs, which were chosen for their expertise in assisting small company growth, will provide counseling and skills training to help small businesses start, grow, and flourish.
In collaboration with Mayor Justin M. Bibb and Cleveland Neighborhood Progress, one of the Entrepreneurs in Residence Powered by Huntington program’s participating organizations will be located at Cleveland City Hall. The Entrepreneur in Residence program at City Hall will focus on minority company development on Cleveland’s southeast side. The Resident will strive to introduce programs like the neighborhood retail assistance program and the storefront development program to the Cleveland communities of Lee/Harvard, Mount Pleasant, and Union Miles.
“Our economic recovery will be fueled by small and minority-owned enterprises. We will be able to help local businesses on the southeast side through the Entrepreneur in Residence Powered by Huntington initiative, which will connect them to resources both inside and outside of City Hall “Cleveland Mayor Justin M. Bibb said as much. “This program exemplifies our dedication to putting people and communities first.”
Huntington’s 11 nonprofit partners will offer programming ranging from student and youth support to minority real estate development contractors, manufacturers, and immigrant entrepreneurs. Company coaching, financial management, digital technology skills, business planning, business growth, marketing, sales, revenue strategies, and other topics will be covered in the programs. Minorities and women are featured prominently in several of the programs.
“Our partners expressed the crucial need for aiding under-resourced small company owners at listening sessions we held last year. We understand that getting money is crucial to helping small businesses develop and thrive “Sean Richardson, Huntington’s Greater Cleveland Regional President, stated. “Entrepreneur in Residence Powered by Huntington is meant to help small businesses grow their talents by using the experience of our nonprofit partners.”
Huntington collaborates with five other groups in addition to the 11 nonprofit partners to provide webinars, speakers, training, and publications to help small businesses access knowledge and advice outside of the core services. Throughout the year, the City Club of Cleveland will provide programming featuring entrepreneurs and small business owners. The Greater Cleveland Partnership-COSE will provide information on small business finance access.
The 11 nonprofit partners participating in the Entrepreneurs in Residence Powered by Huntington program are listed below:
Small business development center at Lorain County Community College provides one-on-one coaching.
MAGNET Iterator is a tool for manufacturing organizations who are developing new products or expanding.
Online executive in residence and workshops, financial literacy, Cuyahoga Community College
Village Capital Corp., Cleveland Neighborhood Progress
1) Cleveland City Hall has appointed an Entrepreneur in Residence to focus on business development in the city’s southeast areas.
2) The Contractors on the Rise initiative, which aims to boost the number of black-owned real estate developers and vendors.
Coach for minorities in business growth for enterprises with revenues of $500,000 to $1 million, provided by the Greater Cleveland Partnership and the Economic Growth Foundation.
UBIZ Venture Capital is a youth entrepreneurship program run by the Urban League of Greater Cleveland.
Through the Women’s Business Center, ECDI provides a digital coach for small business entrepreneurs.
Opportunity Fund for New Entrepreneurs
Mentoring, consulting, and networking for Ashtabula County start-ups.
Assembly for the Arts provides monthly financial guidance and capitalization to arts businesses.
Immigrant microenterprise starts and coaching in Cleveland
Financial data dashboard for minority-owned entrepreneurial start-ups from the President’s Council
Residence for Entrepreneurs Huntington’s 2021 Strategic Community Plan, which commits more than $40 billion to address social, racial, environmental, and economic disparities across the bank’s footprint, is aligned with Powered by Huntington. With a focus on affordable housing, small business loans, and expanded capital to historically disadvantaged and low- to moderate-income neighborhoods, Huntington’s community plan will develop financial opportunities for customers, businesses, and communities covered by the bank.
The Entrepreneur in Residence Powered by Huntington initiative will receive a $500,000 investment from Huntington.