Thursday, August 11, 2022
From Madam C.J. Walker to Oprah Winfrey, we owe a lot to Black entrepreneurs. August is National Black Business Month, where we celebrate the innovation, perseverance, and success of Black entrepreneurs, and take stock of our own work as allies of this vital community. First Merchants is proud to support Black-owned businesses, providing capital, sound advice, and adaptable strategies to help entrepreneurs succeed.
However, we recognize that the financial industry has not always been kind to Black entrepreneurs and Black-owned businesses, and we believe that there is more work to be done to provide these innovative business owners with the support and services they need to bridge the gap.
“Historically speaking, Black business owners have faced deliberate and systematic exclusion from the economic mainstream,” said Tiffany Whitner, Vice President of Community Business Lending with First Merchants Bank. “Due to decades – and, in many cases, centuries – of exclusion, levels of entrepreneurship for Black Americans are lower than those for any other racial group. We’d like to see that statistic change.”
As part of the newly created First Merchants’ Community Business Lending Team – part of our Corporate Social Responsibility efforts – Tiffany works to create more economic inclusion that truly reflects our diverse communities.
“One of the ways we can create a more inclusive economy is by helping Black business owners launch and build sustainable businesses,” Tiffany said. “First Merchants is making efforts to correct the disparities within the business world by offering comprehensive financial wellness education and access to capital and resources for Black- and Brown-owned businesses.”
These steps, in turn, can help uplift communities and impact generations.
“Becoming a business owner allows a person to take charge of their own destiny and come out of economic dependency,” Tiffany explained. “And Black business owners also create opportunities for others in the Black community, becoming role models for the younger generation and creating generational wealth.”
First Merchants is also honored to partner with local chambers of commerce for Black-owned businesses and is proud to donate time and funding to many diverse organizations including:
- The National Association of Minority and Women Owned Law Firms (NAMWOLF)
- The National Association of Minority Mortgage Bankers of America (NAMMBA)
- Latino Institute
- Central Ohio African American Chamber
- Asian American Alliance
- Indy Juneteenth
- Cristo Rey – Ohio and Indiana
- Latino Expo - Indiana
- Indiana Hispanic Council
- Indy Black Chamber of Commerce
- Northwest Indiana Urban League
- United Negro College Fund
- Central Indiana Realtist Assoc.
- Diversity Tippecanoe
- Center for Leadership Development
Check out the links below to find Black-owned businesses in your area:
