Grand Rapids Opportunities for Women received a $400,000 grant to fund its small business development lending in economically disadvantaged communities.
The nonprofit said last week that it received the sum as a Community Development Financial Institution (CDFI) financial award. The nonprofit in 2016 earned its CDFI designation from the U.S. Department of Treasury’s CDFI Fund. This is Grand Rapids Opportunities for Women’s (GROW) second CDFI financial award since then.
Bonnie Nawara, CEO of GROW, said the funds will help the organization broaden its lending base to vulnerable areas. Currently, it provides microloan lending and technical assistance to small businesses in Kent, Ottawa, Muskegon, Newaygo, Allegan, Barry, Ionia, Montcalm and Kalamazoo counties.
“This money helps us to stabilize our lending portfolio and drive our focus to deploy funds into communities of color,” Nawara said.
CDFIs are certified by the U.S. Department of Treasury to inject new sources
The GO Virginia State board has approved an $81,813 grant proposal submitted by a regional partnership in the Shenandoah Valley creating a Small Business Resiliency Team program.
The partnership, involving Harrisonburg Economic Development, Frederick County Economic Development, Shenandoah Valley Small Business Development Center and Lord Fairfax Small Business Development Center, has the goal of providing expanded business support services and technical assistance to area businesses in the wake of challenges faced by small business dealing with the COVID-19 government response.
The program will deploy Business Resiliency Navigators to guide growth-oriented businesses through a dedicated and well-designed process for achieving incremental and sustainable growth throughout the pandemic response
Konrad Spilva – who stepped down as chief executive of Isobar last March after 18 years with the business – has joined independent publisher Hardie Grant in a consulting role. However, there are also plans for his own consultancy on the horizon.
Spilva’s departure from Dentsu was in the works for some time, the business said last year, and would see him support his wife with their online flower and gifting business, and continue his other ventures: Bridge Road Brewery and data consultancy, Alkhemy.
Earlier this year, Spilva was reportedly in discussions with former Dentsu boss Simon Ryan about being an integral part of Ryan’s new business, Ryancap. But he did not end up being part of the venture – dubbed a holding company, with media agency Ryvalmedia and, as of last week, data and tech business Foxcatcher under the Ryancap umbrella.