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Branches is partnering with City National Bank of Florida (CNB) to launch a new program – SPARK for Entrepreneurial Equity. SPARK, an acronym for Supporting Progress, Access, Relationships & Knowledge, will assist business owners in building new relationships, accessing education, and unlocking the tools and resources necessary for entrepreneurial success. Branches is a nonprofit organization focused on empowering families and businesses through education and financial wellness services. Underwritten by CNB, SPARK becomes the bank’s latest ESG initiative focused on addressing inequality in underserved communities, with a focus on Black- and minority women-led entrepreneurship.
To qualify, businesses must be Black-, or minority women-owned and operated, and based in Miami-Dade County. Branches is now accepting applications. For information, please email microbusiness@branchesfl.org. Fifty minority owned businesses will be selected to participate in the program.
City National Bank will fully underwrite ‘SPARK for Entrepreneurial Equity’ with more than $250,000 in financial support and the engagement of its leadership and employees. Participants will take part in a combination of virtual and in-person programming focused on developing skills in business operations, accounting, marketing, and other key components of scaling and growing a business. Businesses will have access to mentors, individualized business coaches, and funding opportunities through CNB microgrants totaling $15,000 for each program cycle. At the end of the program, Branches and CNB will award $20,000 in grants to eight small businesses that demonstrate significant growth over the course of the program.
“Branches is proud to partner with City National Bank to promote equity for women and minority entrepreneurs throughout our community,” said Mr. Brent McLaughlin, President & CEO of Branches. “Together we will provide access to critically needed business coaching, technical assistance and support to create opportunities for small businesses to grow and prosper!”
For nearly 50 years, Branches has made an impact in South Florida through strategic financial wellness services and entrepreneurial development programming. The organization serves minority communities to address critical pillars of business development and success.
“For all the strides that minority businesses have made in our community, there is more work to be done,” explains CNB Vice Chairman and CEO Jorge Gonzalez. “Branches has a long track record of equipping entrepreneurs with the tools and skills they need to achieve self-sufficiency and scale up, and CNB has been a critical source of capital for South Florida entrepreneurs dating back 75 years. SPARK will draw upon those strengths by supporting minority entrepreneurs and unlocking opportunities for continued growth.”
About Branches
For nearly 50 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 wellness services. For additional information about Branches, please visit www.branchesfl.org.
