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Grants Available to Small Businesses Wanting to Open in Downtown Cleveland

Charter One Bank
A small-business grant program called "Growing Communities" is awarding grants up to $20,000 for small businesses wanting to open or expand in downtown Cleveland. The targeted area is the 5th Street Arcades, a historic area built in 1898-1911. The Charter One Bank grant program is designed to fill storefronts in this historic neighborhood.

Grant recipients may use the grant money for up to one year in rent payments, to purchase equipment or to remodel. Applications are due by March 1. Winners will then proceed to a second round of fundraising for 30 days to raise funds from the public. Businesses receiving the grants will open new or expanded businesses in the 5th Street Arcades building in downtown Cleveland.

The grant program is offered by Charter One Bank with help from the downtown Cleveland Alliance and the 5th Street Arcades. The program began three years ago as a neighborhood development program to boost the economy and has met with success, even expanding to other parts of the country.

Charter One Bank is part of RBS Citizens Financial Group, Inc., a $132 billion commercial bank holding company located in Rhode Island and one of the 15 largest commercial banking companies in the country.

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