Meridian Health Plan Partners with Liberty Bank to Boost Small Business Growth in Illinois
Chicago, November 21, 2024 — Meridian Health Plan of Illinois, Inc. recently announced a partnership with Liberty Bank and Trust to support local small businesses through a significant financial initiative. With a $500,000 grant to Liberty’s Lighting Loan Program, this collaboration aims to enhance economic empowerment in Illinois, specifically targeting diverse and minority-owned businesses.
The partnership will enable Liberty Bank to provide loans ranging from $10,000 to $50,000, contributing to a total lending capacity of $2.5 million. This funding initiative is designed to offer quick and accessible financial support, with a streamlined application process allowing businesses to secure funds in as little as 48 hours.
Small business owners in Illinois can now apply for loans and gain access to supplementary educational resources that will enhance their operational efficiency and service delivery. This effort reinforces Meridian’s ongoing commitment to diversity, equity, and inclusion by partnering with financial institutions that share its mission to uplift underserved communities.
“We’re excited to partner with Liberty Bank and Trust to create this innovative funding model,” said Cristal Gary, CEO of Meridian. “This initiative will play a critical role in supporting small businesses and driving economic growth in our communities.”
Liberty Bank’s President, Todd O. McDonald, echoed similar sentiments, emphasizing the partnership’s alignment with their mission to empower underserved communities. “This collaboration provides a new source of capital for Illinois’ small businesses,” he stated, highlighting the opportunity for local business growth and job creation.
This partnership reflects a significant investment towards fostering economic resilience in Illinois, paving the way for greater opportunities and community development in the state. For more details, interested parties can visit libertybank.net/meridian.
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