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Fund aims to double the number of minority-owned businesses

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Jolene Almendarez
/
WVXU
People celebrate the announcement of a $2.5 million fund for Minority Business Enterprises at the Urban League of Greater Southwestern Ohio.

A new initiative is aiming to double the number of minority business enterprises in Cincinnati in the next five years. The Lincoln & Gilbert fund is a collaboration between minority business leaders combined with $2.5 million of funding from the city of Cincinnati.

The initiative is named for the Lincoln and Gilbert intersection of Walnut Hills, the site of the neighborhood’s historic, 1840s Black business district.

The grants are open in three tiers to minority owned businesses based on revenue. The second application period opened June 8 and the third application period opens July 13.

Joining Cincinnati Edition to discuss the Lincoln & Gilbert fund are African American Chamber of Greater Cincinnati and Northern Kentucky President and CEO Eric Kearney; Urban League of Greater Southwestern Ohio Interim President and CEO Christie Kuhns; Water Lily Learning Center and the Garri Davis Agency Owner Garri Davis.

Listen to Cincinnati Edition live at noon M-F. Audio for this segment will be uploaded after 4 p.m. ET.

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