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Do Good Cleveland: Jenny Spencer Supports Small Businesses
The managing director of Detroit Shoreway Community Development Organization helped launch a fund to keep local shops and more in business.
by Ruth Corradi Beach | Oct. 28, 2020 | 11:00 AM
Courtesy Jenny Spencer
Jenny Spencer knows how important small businesses are to their communities. The managing director of the Detroit Shoreway Community Development Organization, which is home to the Gordon Square Arts District, helped develop the Fast Forward Fund after a local resident came to her with the idea. Launched in June, it awards monetary grants to existing, independently owned storefront retail and nonprofit establishments in Gordon Square with 30 or fewer employees. Grants range from $500 to $5,000 dollars, with most between $2,000 and $3,000. And 10% percent of the money raised is set aside for new minority-owned businesses Spencer hopes will come to the area.
The Fast Forward Fund was the brainchild of a local resident, an anonymous donor, who came to us and said, “I need to do something for my neighborhood.” This individual offered to match up to $50,000 of what we’d help raise. We’ve had more than 140 individual donors so far, and 19 of our business and arts partners have received funds to date.
It’s an extraordinary level of generosity that really speaks to the quality of character of our community, which has such a strong sense of identity.
The fund helps businesses bridge the financial gap that COVID-19 has caused. It’s a pure grant, intended to address the question of, “What do you need to evolve your business model so you can continue to conduct business?” Toast and Ninja City used funding to purchase heaters to extend their patio season. Maelstrom Collaborative Arts produced eight weekends of shows in their storefront with their grant.
Just the other day, someone asked me what community development corporations do. It’s about setting a vision and direction for the community.
When you think about a neighborhood, what people love about them frequently comes down to small businesses. That’s what makes places vibrant, walkable and unique. You can’t minimize the importance of small businesses to the community. It’s the identity of Gordon Square.
Click here to meet more do-gooders, find out how you can help your community and read the rest of our "Do Good" package.
The Fast Forward Fund was the brainchild of a local resident, an anonymous donor, who came to us and said, “I need to do something for my neighborhood.” This individual offered to match up to $50,000 of what we’d help raise. We’ve had more than 140 individual donors so far, and 19 of our business and arts partners have received funds to date.
It’s an extraordinary level of generosity that really speaks to the quality of character of our community, which has such a strong sense of identity.
The fund helps businesses bridge the financial gap that COVID-19 has caused. It’s a pure grant, intended to address the question of, “What do you need to evolve your business model so you can continue to conduct business?” Toast and Ninja City used funding to purchase heaters to extend their patio season. Maelstrom Collaborative Arts produced eight weekends of shows in their storefront with their grant.
Just the other day, someone asked me what community development corporations do. It’s about setting a vision and direction for the community.
When you think about a neighborhood, what people love about them frequently comes down to small businesses. That’s what makes places vibrant, walkable and unique. You can’t minimize the importance of small businesses to the community. It’s the identity of Gordon Square.
Click here to meet more do-gooders, find out how you can help your community and read the rest of our "Do Good" package.
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