SOUTHERN BANCORP EXPANDS MINORITY

Business Program

Southern Bancorp Community Partners (SBCP) officially launched its Minority Business Empowerment Program (MBEP), which will provide business technical assistance and funding readiness for minority business owners in five Arkansas counties. Applications for the first cohort of 2024 opened on June 1.

“Small businesses are integral to the health and growth of our local communities, but too often minority-owned businesses are either unable to access financing or receive the tools and resources needed to grow and thrive,” said Darrin Williams, CEO of Southern Bancorp, Inc. “This program is an important vessel through which we can help entrepreneurs overcome those barriers to reach their full potential, and in turn create more jobs and opportunities in our communities.”

Southern Bancorp’s MBEP was created following the pilot version of the program in 2021. During this pilot phase, 29 entrepreneurs in Pulaski County received free technical assistance and around half received loan funding. To date, more than $1 million in financing has been distributed to participating small businesses. The MBEP will expand upon those efforts programmatically and geographically.