Regions Foundation Grants To Support Louisiana Small-Business Ecosystem

Grants include $100,000 for entrepreneurs in New Orleans and reinforced support in Baton Rouge.

NEW ORLEANS, LA / ACCESSWIRE / March 20, 2024 / Regions Bank
By Nestor Mato

The Regions Foundation, a nonprofit funded primarily by Regions Bank, on Thursday announced major grant funding to support small-business growth in New Orleans and Baton Rouge. The grants include:

• $100,000 from the Regions Foundation to help fund a collaboration between the Propeller, Thrive NOLA and Fund 17 Together, these nonprofits are dedicated to growing and supporting entrepreneurs in New Orleans while addressing social and environmental disparities. The result is a more level playing field for more businesses to compete, grow, and thrive.
• $65,000 from the Regions Foundation for the Small Business Mastermind program supporting entrepreneurs in Baton Rouge. This initiative led by the Louisiana Small Business Development Center provides a collaborative space for business owners spanning various industries to convene, share ideas, and develop innovative strategies for overcoming challenges and fostering business growth.

"Small businesses are the economic heartbeat of our communities, and when we invest in their success, we're investing in a stronger economy and quality of life, benefiting people across the region," said Marta Self, executive director of the Regions Foundation. "The message to entrepreneurs is there are people and organizations eager to invest in your success. These nonprofits are committed to helping business owners overcome obstacles and turn their vision for a thriving company into reality. We are proud at the Regions Foundation to support their work in creating more inclusive prosperity."

A Closer Look - Propeller, Thrive NOLA and Fund 17:

This collaborative initiative aims to address the specific needs of BIPOC (Black, Indigenous, and People of Color) small-business owners who have historically faced more limited access to capital needed for business growth. Through technical assistance and support from local lenders, the organizations will help entrepreneurs navigate the hurdles of accessing capital and improve their chances of success.

"We are fostering an innovative New Orleans entrepreneurship ecosystem initiative called the Financial Wellness Collaborative. Since launching, we have collectively served 385 entrepreneurs," said Andrea Chen, Co-CEO of Propeller. "Together, we have been able to do more than one organization can do alone."