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Oak Cliff Thrives

First United Bank and Trust Co. - Durant, OK

2022 Community Committment Awards Submission

  • Economic Inclusion
  • Asset Size: Medium

When small businesses thrive, so do our communities. In 2021, First United's Dallas Community Bank partnered with the Oak Cliff Chamber of Commerce and Hush Blackwell Law Firm to provide a Small Business Incubator program for minority owned small businesses called Oak Cliff Thrives. The Bank donated ,000 towards the program, offered the utilization of the community room, provided mentorships, helped create content, and taught multiple sessions. To be eligible for the program, the business must have annual revenues less than 1 million dollars, have been in business for at least one year, and have been negatively impacted by the pandemic. Thrive is a 13-week educational and mentoring program to help minority owned small business owners impacted negatively by the pandemic elevate their businesses to the next level by offering training and coaching. The curriculum focuses on various important business topics including: Disaster Planning and Impact of COVID, Business Mentoring and Strategic Business Plan Writing, Understanding Credit Reports- Personal and Business, Banking and Insurance, Access to Capital, Government Contracting, The Importance of Becoming a Certified Minority Business & Operating Business in a Tax Efficient Manner, Franchising, Top 20 Biggest Mistakes Small Business Owners Take, Technology 101, Social Media Marketing and Website Creation, Accounting and QuickBooks, Human Resources Matter and Outsourcing. The 2021 cohort met weekly at the Bank's Dallas Community Room. The Bank's Spend Life Wisely Ambassador was heavily involved in the program by attending the sessions and leading workshops on budgeting, marketing, and access to capital. She also reviewed business plans and participated in the gradation day as well as the shark tank business plan pitches.