Enterprise Bank & Trust Announces Investment Into Empower the Change Fund
Enterprise Bank & Trust, the banking subsidiary of Enterprise Financial Services Corp (NASDAQ: EFSC), is pleased to announce the decision to become a limited partner (LP) investor in Advantage Capital’s Empower the Change growth fund, which is dedicated to providing minority-owned businesses access to capital to empower and enable entrepreneurs of color who are advancing innovation across the country.
“Enterprise is committed to helping address capital inequity, and this investment opportunity supports our mission to be an agent of change for this issue,” said Meg Schneithorst, President, St. Louis Region at Enterprise. “We have an established track record of supporting impactful funds, which will undoubtedly invest in individuals and businesses representative of the diverse communities they serve.”
Advantage Capital, in partnership with the National Minority Supplier Development Council Business Consortium Fund, began efforts to disperse funds on a national level in Q2 of 2022. The organizations work in conjunction with like-minded investors, including Enterprise, that share an interest in advancing opportunities for minority-owned businesses as well as the notion that appropriate access to capital can empower entrepreneurs with the resources needed to grow.
“With this fund, we have made a commitment to support minority business enterprises and provide them with flexible financing solutions to create wealth in minority communities,” said Sandra M. Moore, Chief Impact Officer and Managing Director at Advantage Capital. “We are pleased to partner with Enterprise Bank & Trust to help ensure this commitment is successful.”
“We want to have an active role and be a resource in building meaningful relationships and connections for those in a position to utilize Empower the Change funding,” Schneithorst said. “Enterprise was inspired by the mission-driven approach this initiative has taken, and it is such a wonderful opportunity for us to be involved in the financing process to ultimately benefit the clients bringing new and innovative services to their communities.”
About Enterprise Bank & Trust
Enterprise Bank & Trust is a growing financial services partner focused on guiding people to a lifetime of financial success. We empower privately held businesses to succeed, helping families to secure their financial futures, and invest to advance the quality of life for the communities we serve. Enterprise is built on trusted, personal relationships and offers a range of business and personal banking services, wealth management services and a variety of specialized banking services. Enterprise Financial Services Corp (NASDAQ: EFSC), with approximately $13.5 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust operates 43 branch offices in Arizona, California, Kansas, Missouri, Nevada and New Mexico, and SBA loan and deposit production offices throughout the country. Additional information is available at www.enterprisebank.com. Member FDIC.
About Advantage Capital
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $3.8 billion in companies from a diverse array of industry sectors and has helped support more than 66,000 jobs. Learn more at www.advantagecap.com, or via Twitter or LinkedIn.
About the Business Consortium Fund
The National Minority Supplier Development Council Business Consortium Fund, Inc. is a certified United States Department of the Treasury Community Development Financial Institution. BCF is America’s most comprehensive financing and consulting support organization exclusively serving NMSDC-certified minority-owned businesses.