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Minority Owned Business Lending

First Home Bank - St. Petersburg, Florida

2021 Community Commitment Awards Submission

  • Entry Category: Economic Inclusion
  • Asset Size: Small

At First Home Bank, we do more than offer financial services to the community members of the Tampa Bay area. Here, community members are a driving force behind our products and programs, and their needs inspire us to find new and better ways to increase and enhance our community engagement efforts to make a difference in their lives.

One of the main pillars of our Community Engagement Program is a commitment to ensuring minority business owners have equal access to resources they need to support and grow their businesses. Out of this commitment, in 2020, the Minority-Owned Business Lending Program (MOBLP) was born.

Through the MOBLP, First Home Bank endeavors to expand its lending with outreach specially targeting
minority-owned businesses in every community it serves. The plan includes setting lending goals, identifying tactical aspects, providing training and mentoring, and increasing community involvement.

In December of 2020, First Home set an ambitious goal to provide million in loans to minority and women-owned businesses by year-end 2022. As of June 2021, we have surpassed 70% of that goal.