“With this one-time infusion of cash, how can we capitalize on that opportunity to grow those businesses, help them to be sustainable?” said Deputy City Manager LaShea Lofton. “Not just to give them money and help them buy equipment, but really focus on helping them understand that there is an ecosystem that can support them from beginning to end no matter where they are in the continuum, so that they can get an anchor here in our community and contribute to the economic redevelopment that’s taking place throughout the city.”
Lofton is overseeing the $7.6 million effort, which includes creating a new small and minority-owned business support program, grants to nonprofits involved in business development and direct grants to five small businesses. City officials say awarding these funds is still likely weeks out and dollar amounts could change as they conduct thorough eligibility.
Supporting minority-owned business
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