NE Franklin News

The City of Columbus has announced that it is among seven municipalities nationwide selected to receive a $90,000 grant from the Cities for Financial Empowerment Fund (CFE Fund). This grant will support the Small Business Boost (SBB) initiative at the Columbus Financial Empowerment Center, offering specialized services for women entrepreneurs and small business owners. The Center, launched in May 2022, is a joint project between the Columbus Women’s Commission and Jewish Family Services to provide free professional financial counseling to adults in the Columbus area.

Shannon Ginther, first lady of the City of Columbus and chair of the Columbus Women’s Commission, stated, “Women are a powerful force in the Columbus economy – driving innovation, creating jobs and promoting upward mobility for children and families.” She emphasized that the initiative would help women access the financial tools necessary for success without cost.

Small business ownership is seen as a vital way to build wealth, but women often encounter financial challenges that hinder business growth. The initiative, supported by the Principal Foundation, aims to improve personal finances for local entrepreneurs, allowing better access to capital.

Jo Christine Miles, director of Principal Foundation and Community Relations, highlighted, “Small businesses are the mainstay of our nation’s economy, the pathway to financial security for millions of Americans, and the backbone of our communities.” The Principal Foundation backs efforts to eliminate barriers for small business owners.

The CFE Fund first piloted the SBB initiative in 2022 in five municipalities. This new phase involves further initiatives between entrepreneurs and service providers and research into how personal finances affect entrepreneurial success.

Jonathan Mintz, President and CEO of the CFE Fund, remarked, “Small business ownership can be a powerful pathway to opportunity, helping entrepreneurs build financial stability and wealth.” He expressed excitement about collaborating with Columbus and the Principal Foundation.

Since its inception, the Columbus Financial Empowerment Center has assisted over 900 residents in reducing debt by $2.4 million and increasing savings by $950,000. To learn more or schedule an appointment, visit the Center's website or call the center.

The Principal Foundation is an independent charitable entity focused on financial security in communities. Meanwhile, the CFE Fund aids municipalities in enhancing financial stability through various programs, benefiting 62 million people in nearly 150 cities.