Meridian Health Plan of Illinois and Liberty Bank and Trust Partner to Create Small Business Loan Program to Support and Empower Diverse and Small Businesses in Illinois
Meridian Health Plan of Illinois, a Centene company (NYSE:CNC), has partnered with Liberty Bank and Trust to launch a small business loan program in Illinois. The initiative features a $500,000 grant from Meridian that will support $2.5 million in lending power, offering loans ranging from $10,000 to $50,000 to small businesses, particularly diverse and minority-owned enterprises. The Liberty's Lighting Loan Program provides fast application processing within 48 hours and includes supplemental educational programming. The program, which began accepting applications in October, aims to enhance business capabilities and improve operations across Illinois communities.
Meridian Health Plan of Illinois, una società del gruppo Centene (NYSE:CNC), ha stretto una partnership con Liberty Bank and Trust per lanciare un programma di prestiti per piccole imprese in Illinois. L'iniziativa prevede una sovvenzione di 500.000 dollari da parte di Meridian, che supporterà un potere di prestito di 2,5 milioni di dollari, offrendo prestiti che vanno da 10.000 a 50.000 dollari a piccole imprese, in particolare a quelle appartenenti a minoranze e diversificate. Il Programma di Prestiti Lighting di Liberty offre un'elaborazione rapida delle domande entro 48 ore e comprende programmi educativi supplementari. Il programma, che ha iniziato ad accettare domande a ottobre, mira a potenziare le capacità aziendali e migliorare le operazioni nelle comunità dell'Illinois.
Meridian Health Plan of Illinois, una empresa de Centene (NYSE:CNC), se ha asociado con Liberty Bank and Trust para lanzar un programa de préstamos para pequeñas empresas en Illinois. La iniciativa cuenta con una subvención de 500,000 dólares de Meridian que apoyará un poder de préstamo de 2.5 millones de dólares, ofreciendo préstamos que oscilan entre 10,000 y 50,000 dólares para pequeñas empresas, especialmente aquellas de propiedad diversa y de minorías. El Programa de Préstamos Lighting de Liberty proporciona un procesamiento rápido de las solicitudes en 48 horas e incluye programación educativa adicional. El programa, que comenzó a aceptar solicitudes en octubre, tiene como objetivo mejorar las capacidades comerciales y optimizar las operaciones en las comunidades de Illinois.
메리디안 헬스 플랜 오브 일리노이, 센틴(Centene) 회사(NYSE:CNC)의 자회사,가 리버티 뱅크 앤드 트러스트와 협력하여 일리노이주에서 소기업 대출 프로그램을 시작했습니다. 이 프로그램은 메리디안에서 제공하는 500,000달러의 보조금이 포함되어 있으며, 250만 달러의 대출 능력을 지원합니다. 이로 인해 소기업에 대해 10,000달러에서 50,000달러까지의 대출을 제공하며, 특히 다양한 배경을 가진 소수민족 소유 기업을 우선시합니다. 리버티의 라이팅 대출 프로그램은 48시간 이내의 신속한 신청 처리 및 추가 교육 프로그램을 포함합니다. 10월부터 지원서를 접수하기 시작한 이 프로그램은 일리노이 커뮤니티 내 비즈니스 역량을 강화하고 운영을 개선하는 것을 목표로 하고 있습니다.
Meridian Health Plan of Illinois, une entreprise de Centene (NYSE:CNC), a établi un partenariat avec Liberty Bank and Trust pour lancer un programme de prêts pour petites entreprises dans l'Illinois. L'initiative comprend une subvention de 500 000 dollars de Meridian qui soutiendra un pouvoir de prêt de 2,5 millions de dollars, offrant des prêts allant de 10 000 à 50 000 dollars aux petites entreprises, en particulier celles détenues par des minorités et des personnes diversifiées. Le Programme de Prêts Lighting de Liberty assure un traitement rapide des demandes dans les 48 heures et inclut un programme éducatif complémentaire. Ce programme, qui a commencé à accepter des demandes en octobre, vise à renforcer les capacités commerciales et à améliorer les opérations au sein des communautés de l'Illinois.
Meridian Health Plan of Illinois, ein Unternehmen von Centene (NYSE:CNC), hat sich mit Liberty Bank and Trust zusammengetan, um ein Darlehenprogramm für kleine Unternehmen in Illinois zu starten. Die Initiative umfasst einen Zuschuss von 500.000 US-Dollar von Meridian, der 2,5 Millionen US-Dollar an Kreditvergabe-Potential unterstützen wird, und Kredite zwischen 10.000 und 50.000 US-Dollar für kleine Unternehmen, insbesondere für solche, die von Minderheiten oder vielfältigen Eigentümern betrieben werden. Das Liberty's Lighting Loan Program bietet eine schnelle Bearbeitung von Anträgen innerhalb von 48 Stunden und umfasst ergänzende Bildungsprogramme. Das Programm, das im Oktober mit der Annahme von Anträgen begann, zielt darauf ab, die Geschäftsfähigkeiten zu verbessern und die Abläufe in den Gemeinden von Illinois zu optimieren.
- Creation of $2.5 million lending power from $500,000 initial investment, showing efficient capital leverage
- Quick loan processing timeframe of 48 hours, indicating operational efficiency
- Strategic expansion into community development and financial services
- None.
Insights
This partnership represents a strategic community investment initiative that could yield positive long-term benefits for Centene (CNC). The
The rapid 48-hour loan approval process and loan sizes of
As of October, small business owners may submit a loan application to access capital and supplemental educational programming to enhance their capabilities, improve their operations and bolster their ability to deliver goods and services in communities across the state of
"We're excited to partner with Liberty Bank and Trust to create this innovative funding model for the businesses that make a critical difference in the communities we serve," said Cristal Gary, Meridian Plan President and Chief Executive Officer. "It is an honor to contribute to the growth of small, and potentially diverse, businesses in
"We are thrilled to partner with Meridian Health Plan of
For more information, visit libertybank.net/meridian.
About Meridian Health Plan of
Meridian Health Plan of
About Liberty Bank and Trust
Founded in 1972, Liberty Bank and Trust is the largest Black-owned financial institution in
Forward-Looking Statements
All statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. Without limiting the foregoing, forward-looking statements often use words such as "guidance," "believe," "anticipate," "plan," "expect," "estimate," "intend," "seek," "target," "goal," "may," "will," "would," "could," "should," "can," "continue" and other similar words or expressions (and the negative thereof). Centene Corporation and its subsidiaries (Centene, the Company, our or we) intends such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we are including this statement for purposes of complying with these safe-harbor provisions. In particular, these statements include, without limitation, statements about our future operating or financial performance, market opportunity, competition, expected contract or program start dates and terms, expected activities in connection with completed and future acquisitions and dispositions, our investments, and the adequacy of our available cash resources. These forward-looking statements reflect our current views with respect to future events and are based on numerous assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, business strategies, operating environments, future developments, and other factors we believe appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties and are subject to change because they relate to events and depend on circumstances that will occur in the future, including economic, regulatory, competitive, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions. All forward-looking statements included in this press release are based on information available to us on the date hereof. Except as may be otherwise required by law, we undertake no obligation to update or revise the forward-looking statements included in this press release, whether as a result of new information, future events, or otherwise, after the date hereof. You should not place undue reliance on any forward-looking statements, as actual results may differ materially from projections, estimates, or other forward-looking statements due to a variety of important factors, variables, and events including, but not limited to: our ability to design and price products that are competitive and/or actuarially sound including but not limited to any impacts resulting from Medicaid redeterminations; our ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that can impact revenue and future growth; our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including fluctuations in medical utilization rates; competition, including for providers, broker distribution networks, contract reprocurements and organic growth; our ability to adequately anticipate demand and provide for operational resources to maintain service level requirements; our ability to manage our information systems effectively; disruption, unexpected costs, or similar risks from business transactions, including acquisitions, divestitures, and changes in our relationships with third parties; impairments to real estate, investments, goodwill and intangible assets; changes in senior management, loss of one or more key personnel or an inability to attract, hire, integrate and retain skilled personnel; membership and revenue declines or unexpected trends; rate cuts or other payment reductions or delays by governmental payors and other risks and uncertainties affecting our government businesses; changes in healthcare practices, new technologies, and advances in medicine; our ability to effectively and ethically use artificial intelligence and machine learning in compliance with applicable laws; increased healthcare costs; inflation and interest rates; the effect of social, economic, and political conditions and geopolitical events, including as a result of changes in
View original content to download multimedia:https://www.prnewswire.com/news-releases/meridian-health-plan-of-illinois-and-liberty-bank-and-trust-partner-to-create-small-business-loan-program-to-support-and-empower-diverse-and-small-businesses-in-illinois-302313025.html
SOURCE Meridian of
FAQ
What is the size of Meridian Health Plan's grant to Liberty Bank's small business loan program?
What is the loan range offered through the Meridian-Liberty Bank partnership?
How long does the loan application process take under the Meridian-Liberty program?
When did the Meridian-Liberty Bank loan program begin accepting applications?
