The Regions Foundation, a non-profit organization primarily supported by Regions Bank, announced significant grant funding on Thursday to bolster small-business growth in both New Orleans and Baton Rouge. These grants encompass:
$100,000 allocated by the Regions Foundation to aid a collaborative effort involving Propeller, Thrive NOLA, and Fund 17. These organizations are dedicated to nurturing and expanding entrepreneurs in New Orleans while tackling social and environmental disparities. The aim is to create a more equitable landscape where businesses can compete, grow, and flourish. $65,000 provided by the Regions Foundation to support the Small Business Mastermind program, which assists entrepreneurs in Baton Rouge. Led by the Louisiana Small Business Development Center, this initiative offers a platform for business owners from diverse industries to gather, exchange ideas, and devise innovative strategies to overcome obstacles and foster business expansion.
Marta Self, executive director of the Regions Foundation, emphasized the crucial role of small businesses in local economies, highlighting that investing in their success leads to a stronger economy and improved quality of life for communities across the region. She expressed pride in the foundation's support for organizations dedicated to fostering inclusive prosperity.
The collaboration between Propeller, Thrive NOLA, Fund 17, and the Regions Foundation aims to address the specific needs of BIPOC small-business owners who historically faced challenges in accessing capital for growth. Through technical assistance and support from local lenders, these organizations facilitate access to capital and enhance the prospects of success for entrepreneurs.
The $100,000 grant from the Regions Foundation will fund various activities aimed at helping entrepreneurs access capital, including tax preparation, business certifications, training, and counseling in financial management. Chuck Morse, executive director of Thrive New Orleans, stressed the importance of collaboration in creating an environment where every entrepreneur can thrive.
In Baton Rouge, the $65,000 funding for the Small Business Mastermind program represents the continuation of the Regions Foundation's support for the Louisiana Small Business Development Center. Amy Province, Baton Rouge market executive for Regions Bank, highlighted the program's evolution to provide tailored support for small-business owners in the capital city, offering a platform for collective problem-solving and strategic planning.
Overall, these initiatives underscore a shared commitment to building a more equitable and prosperous future for New Orleans, Baton Rouge, and their residents.
“This initiative is a source of advice, guidance, networking, and resources,” said Amy Province, Baton Rouge market executive for Regions Bank, who attended the program’s kickoff event. “By investing in initiatives like Small Business Mastermind, our colleagues at the Regions Foundation continue to champion entrepreneurship and economic empowerment across Louisiana.”
The program provides participants with expert guidance, monthly gatherings, and a supportive community of like-minded individuals focused on empowering entrepreneurs to thrive.
“We extend our sincere gratitude for the generous support provided by the Regions Foundation, which is vital in facilitating the Small Business Mastermind program,” said Heidi Melancon, assistant state director of the Louisiana Small Business Development Center.
“This contribution helps advance our mission to foster the growth and development of small businesses, thereby enriching our local community and economy.”