Cleveland-area small businesses eligible for $15 million through partnership with Goldman Sachs

CLEVELAND - Cleveland-area small businesses are getting a $15 million boost to help them grow and create more jobs in northeast Ohio. 

The city of Cleveland is teaming up with Cuyahoga County Community College (Tri-C) and Goldman Sachs for the initiative.

Cleveland is the 7th city chosen nationally for the program, which was launched two years ago. The eligible businesses will receive the money over the next five years. Start-up companies and struggling businesses are not eligible.

A big part of the program will be business classes at Tri-C for small business owners. Some of the topics will include leadership, hiring the right people and preparing financial statements. Small business owners can apply for classes that will be offered starting this fall or apply for grants or loans.

For Barb Cagley, this initiative is just what her small company needs.

"I'm looking for the next big client, so maybe they can finance it. If I didn't have to focus there I can really put my energy into taking the company to the next level. Because I have a little money, it would really turn me around quicker," she said.

The program is aimed at reaching 10,000 small businesses all across the country. The other cities are New York, Los Angeles, Chicago, Long Beach, New Orleans and Houston. Applications are available at  www.tri-c.edu/10ksb

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