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LISC Toledo’s Smalll Business Stabilization Fund Helps
Businesses Impacted by COVID-19
Sojourner’s Truth Staff
Local Initiatives Support
Corporation (LISC) has continued its COVID-19 relief efforts
with the launch of the Greater Toledo Small Business
Stabilization Fund. Upon its completion, the Fund will have
provided a total of nearly $500,000 in grants to help such
businesses ward off the financial problems created by the
pandemic.
Nationally LISC is
partnering with Verizon and Sam’s Club to provide funding to
hundreds of small businesses around the nation that have
been affected by the pandemic. In Toledo, LISC is
cooperating with those organizations and others such as
KeyBank Business Boost and Build Program, JumpStart, the
City of Toledo, Toledo-Lucas County Port Authority and
ProMedica to create a round of funding to assist small
businesses.
Businesses with one or
more employees are eligible to receive grants in the amount
of $5,000, $7,500 or $10,000 to assist with operating
expenses that have occurred during the pandemic.
The priority for such
grants is to businesses led by people of color, women and
veterans, along with those located in low- to moderate
communities, along with LISC target areas.
“We know these businesses
are the least likely to have access to resources to help
them weather this storm,” said Sarah Allen, LISC Toledo
program officer. “These grants support not only Toledo small
businesses, but the surrounding neighborhoods that depend on
them.”
Several such businesses
that recently have received grants are Ruby’s Kitchen, Savvy
Sistas and Kynard Enterprises.
Ruby Butler opened Ruby’s
Kitchen in 2004 and over the past 16 years Butler has built
a steady, faithful clientele to sample her homemade soul
food. As with many restaurants, which thrive on ensuring
customers are placed side by side, in very closed quarters,
Ruby’s Kitchen had to completely alter its operation during
the pandemic, first offering only pick-up service. The
$10,000 grant from LISC will help the restaurant with rent
and operational costs incurred during a period of limited
revenues.
Savvy Sistas was opened
four years ago by Lynette Dunbar, Loretta Taylor and Patrice
Russell. The boutique offers handbags, jewelry, clothing and
accessories in a tastefully arranged shop on Canton Street
in downtown Toledo. The sisters will be using their grant
funds to pay for merchandise and bills as well as to enhance
the shop’s marketing efforts.
Kynard Enterprises, LLC is a full-service building and
property maintenance company serving Toledo and NW Ohio
since 2008. The company offers a wide array of commercial
and residential services to property management companies,
real estate and mortgage companies, city municipalities,
schools, churches, property investors and home owners.
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Ruby’s Kitchen Head Cook Sonda Hicks
Clyde Kynard
Loretta Taylor
Lynette Dunbar
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“A little bit of everything,” says Clyde Kynard of the
property services his company offers – cleaning, repairs,
maintenance, lawns, and so on.
Kynard will be utilizing his company’s grant for marketing
and branding efforts and client acquisition. He also hopes
to expand the company’s service and administration.
Ruby’s Kitchen, Savvy Sistas and Kynard Enterprises are but
a few of the local companies that are benefiting from the
LISC Verizon Stabilization Fund grants. A few of the other
companies are Salon Nevaeh, Touch a Dream Dance Studio,
Hotbox Bistro, Boochy Mama’s and Josephine’s Kitchen. A full
list will be announced shortly.
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