FORT LAUDERDALE, Fl.–(November 09, 2021) — The Central County Community Development Corporation (CCCDC), a subsidiary of the Urban League of Broward County, announced a $250,000 investment from Bank Leumi USA to fund its Small Business Loan Fund. The fund was established in 2015 to improve access to capital for low-income entrepreneurs and small business owners in low-wealth communities across Florida.
The commitment from Bank Leumi USA marks a key expansion of its small business support initiative which aims to create equal opportunities and access to financial security for all. The investment comes from the Leumi Community Support Fund, a donor-advised fund launched in 2020 in response to the unprecedented challenges endured by its communities, neighbors, and partners with a portion of the fees from its participation in the Paycheck Protection Program. Leumi began its first initiative from the fund – its small business support initiative – to give back to the very businesses and entrepreneurs who have historically been unable to easily access loans or financial support when they needed it most.
“Our communities benefit when we can all take part, and we know that as an entrepreneur or small business owner, it can be difficult and daunting to face challenges alone,” said Jeff Watts, Florida Market President at Bank Leumi USA. “We are excited to partner with the Urban League of Broward County to provide vital support to small businesses in need. Together, our hope is that we can help break down the barriers of inequality, level the playing field for all entrepreneurs, and elevate communities across Florida.”
With the investment in Urban League’s CCCDC, Bank Leumi USA will have committed more than half a million dollars to create a larger, lasting impact for small businesses in our local communities.
The investment will support the CCCDC’s mission central to the establishment and growth of minority-owned businesses. Since receiving its federal designation as a community development financial corporation (CDFI) in 2020, the Central County CDC has committed a total of $1.6 Million in lending to support small businesses throughout South Florida.
“We remain committed to building healthy and resilient communities through economic development,” said Dr. Germaine Smith-Baugh, president and CEO of the Urban League of Broward County and chair of the Central County CDC. “We thank Bank Leumi USA for being a trusted partner in this effort to increase the CCCDC’s lending capacity — meeting a critical market need for flexible, affordable capital for small minority-owned businesses.”
In addition to lending, small business clients will be offered training and capital development support through the Urban League’s Entrepreneurship Center. The CCCDC accepts loan applications for its Small Business Loan Fund on its website at www.cccdcorp.org.
To learn more about the CCCDC, Small Business Loan Fund, and the Urban League of Broward County, contact (954) 584-0777.
