Amerant Launches Micro-Grant Program for Small Businesses in Houston; Initial Funding Supported LiftFund and its Micro-Business Program
Program provides financial aid to small businesses and sole proprietors who have no access to PPP or other types of loans or government assistance
Houston, TX – While many small businesses availed themselves of PPP loans and other types of financial aid and government assistance programs, many impacted micro-businesses did not meet the prerequisites to receive financial aid. Small businesses that lack access to these resources are among thousands of sole proprietors and mom and pop shops in Houston that are now in danger of having to close their businesses.
Amerant has created its new pilot program – The Amerant Micro-Grant Program – designed to provide support to those most vulnerable businesses impacted by the pandemic.
In Houston, Amerant allocated the program’s funds to LiftFund, whose mission is to create and provide resources for small businesses and entrepreneurs who do not have access to loans from commercial sources.
LiftFund is a designated community development financial institution (CDFI) based in Houston that provides support and creates the means for small businesses, microenterprises, as well as nonprofit organizations, to stabilize and become economically self-sufficient. With Amerant’s support, LiftFund provided recovery grants to local micro and small businesses in the Greater Houston Area, a critical resource during these times of need.
“The small businesses are vital to our local community, so we are very proud to partner with LiftFund in Houston and allocate the resources they need to their Micro-Business program.” said Francisco Rivero, Executive Vice President of Amerant Bank. “We recognize that even the smallest financial burden can be debilitating to many small businesses, so we are very pleased to be joining LiftFund in its efforts to help these companies stabilize and make their way through an economic recovery.”
“With the generous support from Amerant, we have been able to provide financial assistance and resources to small businesses in the Greater Houston area, so they can navigate through the economic impact and challenges the pandemic has had on their business.” Michi Bruns Clay, Regional VP of Houston and East Texas for LiftFund.
Small businesses play a tremendous role in Houston’s economy, and the pandemic has been forcing many businesses across the country to close or to lay off employees, leaving many in a financial crisis. LiftFund aims to provide financial relief, while providing new opportunities and additional resources for communities to flourish.
For more information on LiftFund’s programs and services, please visit www.liftfund.com or contact Michi B. Clay at 888.215.2373.
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 25 banking centers – 18 in South Florida, 7 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.
LiftFund is a nonprofit micro- and small community lender that transforms lives by opening doors and leveling the financial playing field in entrepreneurship. As a Community Development Financial Institution (CDFI) established in 1994, in San Antonio, Texas, LiftFund provides responsible capital and business education to small business owners and aspiring entrepreneurs. Since inception, LiftFund has made over 23,000 loans totaling more than $370 million across its 13 state footprint, which includes: Texas, Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, and Tennessee.
Lisa Marie Barocas