Amerant Launches Micro-Grant Pilot Program for Small Businesses; Initial Funding Will Support Miami-Dade-Based Branches and its Micro-Business Program
Amerant Micro-Grant Program looks to help most vulnerable ‘mom and pop’ shops and sole proprietors who have no access to PPP or other type of loan assistance
CORAL GABLES – While many small businesses availed themselves of PPP loans and other types of financial assistance and government programs, many did not meet the prerequisites for receiving that type of assistance. They are among the thousands of sole proprietors and smaller businesses who were simply unable to access those resources and are now in danger of having to close.
It is for those most vulnerable entities that Amerant, one of the largest community banks headquartered in Florida, has focused its pilot, the Amerant Micro-Grant Program. The program’s funds were allocated to Branches, a local nonprofit organization serving Miami-Dade County which provides life-changing opportunities for small businesses, working families and their children.
The Branches Micro-Business program provides recipients of a grant and their business a broad range of crucial support services, with the goals of becoming economically self-sufficient.
“We are very proud to partner with Branches and allocate our initial pilot program grant for their Micro-Business program,” said Millar Wilson, Vice-Chairman and CEO of Amerant Bank. “The survival of these small businesses is vital to our community, and we recognize that even the smallest financial barrier can be overwhelming. By working with Branches, we will be able to bring these important resources to organizations who may have no other recourse.”
“Thanks to Amerant, Branches will be able to not only continue serving its many Micro- Businesses by providing one-on-one technical assistance and specialized training, but will also be able to provide COVID-19 pandemic recovery grants to several small businesses in need of financial assistance” said Brent McLaughlin, Executive Director of Branches.
Small businesses in Miami provide 53% of jobs in this community, and now due to the COVID- 19 pandemic, too many of these businesses are struggling to retain employees and keep their doors open. Branches serves to create opportunities for these businesses by providing technical assistance and critical micro grants.
“Combined, these resources enable small businesses to become more financially stable and endure through these tough times. With the generous support from Amerant, together we are making a positive impact for hundreds of micro businesses,” concluded Brent McLaughlin, Executive Director of Branches.
For more information on Branches’ programs and services, please contact Isabelle Pike at 305-206-5689 or ipike@branchesfl.org.
For additional information about Amerant, please visit www.amerantbank.com and follow the Company on Instagram at @AmerantBank, and Facebook at https://www.facebook.com/AmerantBank/.
About Amerant
Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida. The Company operates through its subsidiaries, Amerant Bank, N.A. (the “Bank”), Amerant Investments, Inc., Amerant Trust, N.A, and Elant Bank and Trust Ltd. The Company provides individuals and businesses in the U.S., as well as select international clients, with deposit, credit and wealth management services. The Bank, which has operated for over 40 years, is one of the largest community banks headquartered in Florida. The Bank operates 27 banking centers – 19 in South Florida, 8 in the Houston, Texas area, and loan production offices in Dallas, Texas and New York, New York. For more information, please visit www.amerantbank.com or https://investor.amerantbank.com.
About Branches
For over 45 years, Branches has made a positive impact in the community by delivering on its mission to serve, educate and inspire people through student, family and financial stability services. Branches provides long-term, holistic services for motivated individuals and families. We help people grow deeper and climb higher in life by building a foundation through education so they can achieve their goals and fulfill their potential. For more information about Branches, please contact Isabelle Pike at 305-442-8306 x1002 or ipike@branchesfl.org or visit Branches at www.branchesfl.org.
Media Contacts:
Amerant
Israel Kreps
ikreps@krepspr.com
Veronica Villegas Baldwin
vvillegas@krepspr.com
305.663.3543 x312
Branches
Isabelle Pike
ipike@branchesfl.org
305-206-5689