What You Need To Know
- Spectrum is investing in small businesses in Ohio
- This year they are making a $1 million investment in rural small businesses
- Overall Spectrum has invested $185 million in small businesses across the U.S.
- Charter Communications is the parent company of both Spectrum and Spectrum News 1
Spectrum announced that it will be giving $1 million in loans to help companies in rural areas whose services play a vital role in underserved communities.
“As we build out our network in more rural locations and that is ongoing and will be continuing, we will be investing in Community Development Financial Institutions (CDFI’s) that will also find those small businesses in the rural locations and invest in them, providing them with capital,” said Jeffrey Buller, vice president of Charter Communications, the parent company to Spectrum and Spectrum News 1.
This is the second round of small business loans Spectrum is giving out. In 2020, it focused on companies in urban areas.
Among previous recipients is Michelle Allen, who started MMELO Boutique Confections, seven years ago. She said if it weren’t for the loans she received, she may not still be in business today.
“My business would not exist quite literally without any CDI,” said Allen. “When I came back into the country because I had lived out of the country for 13 years, banks wouldn't even look at me. You know, it was really because they took a chance on me and they continued to do that all through our development at every stage of our growth, even in the start up, I mean, we're now seven years old now.”
Allen was also the recipient of Spectrum’s Media Grant which gave her air time and access to markets that helped grow her business. She said that more businesses should be reaching out into the community to provide opportunities for growth and revenue.
“We actually have customers that are calling us right now that are calling us because of that Spectrum ad,” said Allen. “I would imagine next year we can probably buy some air time on Spectrum because of it. so, you know, it's a win-win for everyone.”
Overall, Charter Communications has invested more than $185 million in small businesses nationwide since 2020.
Charter Communications is the parent company of Spectrum News 1.