×

$200,000 grant to support program for minority-owned small businesses

Mercy Health Foundation has entered into a collaboration to develop better economic opportunities for the Valley’s minority-owned small businesses.

The foundation announced Monday it awarded a $200,000 grant to Youngstown-based Intentional Development Group Inc.

Funding will be directed to Cornerstone Collective: Minority Business Accelerator.

The program provides minority-owned small businesses with coaching, technical assistance, community support and working spaces as needed.

“Fostering financial literacy, access to capital and business growth opportunities will help create lasting economic stability for minority entrepreneurs, while also uplifting and empowering our communities,” Leigh Greene, director of Community Health, Mercy Health-Youngstown, said.

According to a news release, the accelerator’s main goal is to close the earnings gap for minority entrepreneurs and those who lack sufficient resources.

Organizers said the program is designed to help businesses increase revenue and profit margins, expand market reach, grow employee numbers, acquire loans, grants or VC funding and develop strong leadership.

A 12-week program will be offered in Youngstown. A shorter session is scheduled for Lorain County Community College.

“This initiative is more than just a business program — it’s a movement to create sustainable economic growth in under-resourced communities,” Carmella M. Williams, CEO of Intentional Development Group, said.

The foundation said the funding is part of nearly $1 million in Community Health Fund grants awarded annually to local organizations across Mercy Health’s service area.

Funding has been used to support affordable housing, food access, expanded care for the under and uninsured, small business development, substance-use disorder and community partnership.

Starting at $2.99/week.

Subscribe Today