Southern Bancorp names 30 business owners for minority empowerment program

Southern Bancorp Community Partners (SBCP), a Community Development Financial Institution (CDFI) and partner of Southern Bancorp Inc., announced Tuesday (July 16) 30 business owners who will take part in its Minority Business Empowerment Program (MBEP).

The entrepreneurs, who represent the first of two cohorts in 2024, will now begin the 12-week program, which provides business technical assistance and funding readiness.

“We’re excited to welcome these businesses into our Minority Business Empowerment Program,” said Kenya Davenport, Interim President of Southern Bancorp Community Partners. “With the support of this impactful program, more local entrepreneurs will have access to the building blocks needed to succeed, scale, and create additional jobs and opportunities in our communities.”

Southern Bancorp’s MBEP is a no-cost, 12-week development program. The business technical assistance provided is led by experts through both group learning and one-on-one sessions, and centers around seven key business disciplines: sales and operations, financial management and accounting, human resources, marketing and communications, management and leadership, business growth strategies, and digital technology integration.

Upon completing the program, participants are better prepared to seek funding to support their business operations, growth potential, and scalability.

The MBEP is supported by program partner Simmons Bank, which in May announced a $1.25 million investment for the program’s operations and funding. Simmons Bank’s support includes a 10-year, $1 million Equity Equivalent (EQ2) investment and a $250,000 grant to cover the technical assistance costs for participating businesses.

Southern Bancorp Inc., contributed an additional $1 million investment to the program.

According to a study led by McKinsey & Company, about 15% of white Americans hold at least some business equity, compared to only 5% of Black Americans. Of those who do, the average Black American’s business is worth about 50% of the average American’s and about a third of the average white American’s. If existing minority-owned businesses reached the same average revenue as their industry counterparts, it would result in an estimated $190 billion in GDP growth nationwide.

The full roster of MBEP’s 2024 Summer Cohort listed below:

Robert Alexander, KustomMade Properties LLC (Little Rock)

Felicia Bailey, C&C Lawn Service Care LLC (Little Rock)

Arnetta Bradford, HeBrews 11:1 (Hope)

Cassandra Carey, Ascend Clean (Benton)

Raysha Clark, The Collective (Little Rock)

Brian Clay & Kari Watson, AlmsTravel LLC (Cabot)

Ammoria Daniels, ArkLaMiss Logistics Inc. (Maumelle)

Dr. Melanie Desmuke-Battles, Scholars for the Soul: An Education Solutions Firm (Little Rock)

Edward Garland, APEX Senior Care & Consulting LLC (Little Rock)

Tina Gilbert, Next Level Training Solution Group (Springdale)

Roland Gosey, Williams Funeral Home (Arkadelphia)

Monica Hale, Plush Homes Company-Realtors (Little Rock)

Dameake Harvey, Dameake Right Choice Tax Services (Little Rock)

Robert Henderson, Sims Mortuary (El Dorado)

Kelly Hollis, EcoPump LLC (Little Rock)

Sara Hurst, Bella’s Kitchen & Wellness (Little Rock)

Alysha Johnson, Luxe the Salon Suites LLC (North Little Rock)

Tandra Jordan, Ms. Tan’s OCD Cleaning Service LLC (Little Rock)

Rodney Livingston, Silver Back Expedited Shipping LLC (Bryant)

Angela McGhee, Definitive Formulations LLC (Conway)

Erin McMurrian, Empact Realty Group (El Dorado)

Jerald Mitchell, TV Mounting Pro LLC (Little Rock)

Patrick Oliver, Say It Loud! Readers and Writers (Dallas, TX)

Lydia Page, LLI Development LLC (Little Rock)

Latasha Robinson, Yoni Steam and Detox (Newport)

Krystle Rucker, KRB Hair Studio (Bryant)

Toshua Shelton-Wiggins, Always Promoting Independence (North Little Rock)

Shannon Smith, SSD Realty Group (Little Rock)

Keisha Walker, Dawn Realty & Associates (Little Rock)

Lynn Walls, Heaven Sent Adult Daycare Center (Sherwood)

The Minority Business Empowerment Program is made possible through a collaborative group of program partners including Simmons Bank, the City of Little Rock, the Winthrop Rockefeller Foundation, Fifty for the Future, BCA Culture, and Southern Bancorp Inc.