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After a successful launch of its Micro-Grant program in the middle of the COVID-19 pandemic, Amerant Bank, the second largest community bank headquartered in Florida, has announced that it will continue to partner with Branches to support local micro-businesses and entrepreneurs.
Branches is a local nonprofit organization serving Miami-Dade County which provides life-changing opportunities for small businesses, working families and their children. Amerant will be supporting Branches’ Micro-Business program which grants recipients and their businesses a broad range of crucial support services, with the goal of achieving financial wellness, increase opportunities for economic mobility and wealth creation.
When the pandemic impacted mom and pop shops and sole proprietors that were struggling to keep businesses operating, but did not meet the prerequisites needed to qualify for PPP or other financial assistance, Amerant’s Micro-Grant Program served as a bridge to pay rents, repair food trucks and other similar needs.
“We were very proud to partner with Branches last year and help support small businesses in our community during the pandemic,” said Mary Ann Cruz, vice president and CRA Officer at Amerant Bank. “Now that we have made it through the recovery efforts, these businesses need access to professional services which can be costly. We are happy to partner with Branches again and provide micro-businesses important resources needed to thrive.”
Earlier this year, Branches’ Micro-Business initiatives shifted from providing economic recovery support to micro-businesses and sole proprietors, to providing the assistance they need to ensure their business’ long-term sustainability. Today, the grant program provides access to professional services, such as building of websites, graphic design, marketing, and legal services so that their businesses can reap of the benefits for the long-haul.
“Thanks to Amerant, Branches will continue to serve the needs of more small businesses in Miami-Dade County and provide them with the access and professional services they need to keep their businesses running for the long-term,” said Brent McLaughlin, executive director of Branches.
Branches serves to create opportunities for small businesses by providing Technical Assistance as well as micro-grants. Small businesses in Miami provide 53 percent of jobs in the community, and during COVID-19 many businesses struggled to stay open and now lack access to professional services.
“With the generous support and contributions of companies like Amerant, the resources we provide, lead small businesses to become financially stable. Together we turn negative circumstances into positives for hundreds of micro businesses,” McLaughlin added.
