JumpStart to use KeyBank Foundation grant to provide technical services and capital to Cleveland-area MBEs and tech entrepreneurs
Cathy Cross started her gourmet ice cream sandwich business in 2018 with the help of JumpStart small business impact program. She expects to add a fourth location by the end of this year in addition to her food truck and online operations.
KeyBank and JumpStart today announced a $5 million, 5-year grant aimed at accelerating the growth of local entrepreneurship, with a focus on bridging resource gaps for African American, Hispanic and women-owned small businesses and tech start-ups. The grant, awarded by the KeyBank Foundation, will leverage existing JumpStart programming developed under a previous four-year grant partnership.
Among other initiatives, the funding will be used to deepen the reach and outcomes of JumpStart’s Small Business Impact Program, a 12-week small business accelerator providing industry-specific mentoring, high-impact technical services and up to $10,000 in grant capital per participant. Support from KeyBank helped JumpStart grow and expand this program.
“We are excited to continue to partner with JumpStart to help Cleveland’s black, Latino/Hispanic and women small business owners and tech entrepreneurs grow in an equitable and inclusive way,” said KeyBank Cleveland Market President and Commercial Sales Leader Kelly Lamirand. “When all of us have the opportunity to succeed, our community prospers. All of us at KeyBank are looking forward to continuing to work to help our hometown grow.”
The Impact Program helped Cathy Cross mature from start-up to growing enterprise. A 2010 Spelman College graduate, Cross came to Cleveland to attend law school at Cleveland State University. She practiced law for a few years before turning full-scale entrepreneur. She opened her first gourmet ice cream shop in downtown Cleveland in spring of 2018. Cathy’s Gourmet Ice Cream Sandwiches serves clientele in an upbeat and inviting atmosphere. A 100% woman/minority-owned company, Cathy’s now has three locations — two in Atlanta, (both opened last year) and one in Cleveland [401 Euclid Ave] — with a Nashville, Tennessee store on the drawing board for later this year.
“We are growing everyday with new employees and stores,” she said, referencing her roving truck store in Atlanta as well as her growing online business.
Cathy's Gourmet Ice Cream Sandwiches has gone back to basics with an ice cream party truck in Atlanta
Cross continues to lean on JumpStart advisors as she expands. ““Our mission is to bring happy smiles and a fantastic working environment to the community. … JumpStart continues to support our growth in many ways, helping us scale and create more income opportunities from our team members, managers and administrative professions,” Cross said.
Other small business initiatives supported by the KeyBank grant include one-on-one advising, educational programming, and networking opportunities.
Additionally, the funding supports a tech equity initiative aimed at bridging gaps between tech founders of color and the many resources available to Ohio-based innovation start-ups. Through this initiative, and in partnership with other community organizations, black and Latino/Hispanic tech entrepreneurs receive technical services, advising and pathways to capital through a shared Entrepreneur-in-Residence.
“We are grateful to Key for their continued partnership and commitment to equity and entrepreneurship, especially during a period of economic recovery, opportunity and growth”, said JumpStart CEO Ray Leach.
• • •• • •
