HBDi and Allegiance Bank Spark Job Creation in Houston’s Underserved Communities
ABOVE: Allegiance Bank Representatives present $150k grant to Houston Business Development, Inc. (HBDi) President and CEO Marlon Mitchell, along with Council Member Dwight Boykins
Having access to capital is extremely vital for any emerging small business.
Therefore, in an effort to assist aspiring entrepreneurs and small minority owned businesses with business planning assistance and access to capital that is not readily available from conventional sources, the Houston Business Development Inc. (HBDi), Allegiance Bank and SCORE have forged a partnership to meet the ever-increasing need of small and minority owned businesses to access capital by creating a newly launched Business Information Center (BIC) and Allegiance Bank Loan Production Office.
Several dignitaries, including Council Member Dwight Boykins (Dist. D), City of Houston officials and many more, attended the grand opening and ribbon cutting of the BIC and Allegiance Bank Loan Production Office.
The Business Information Center (BIC), located in the historic Palm Center at 5330 Griggs Road, Houston, Texas, 77021, will have a vital economic impact in the Southeast quadrant of Houston by fostering the development and growth of small businesses, resulting in expanded commerce and job creation.
“By opening a community lending office in the Palm Center area, a predominately African American and Hispanic community, Allegiance Bank hopes to increase its small lending production while making a direct investment in the community” states Marlon Mitchell President and CEO at Houston Business Development, Inc. “This center will allow us to meet the needs of anyone who is at any stage of business growth and development.”
Mitchell states that the BIC will serve as a one-stop shop for anyone who is just starting a business, needing a business plan or seeking funding for any type of project or need.
Allegiance Bank (“Allegiance”), which operates 16 full-service banking locations in the Houston metropolitan area, announced the opening of a Loan Production Office at the BIC.
“We understand the vital contribution that small businesses provide to the economic development, revitalization, and stabilization of low to moderate income communities,” said Ray Vitulli, President and Chief Operating Officer of Allegiance Bank “To show our commitment and support, Allegiance has provided a $150,000 grant to Houston Business Development, Inc. (HBDi) to create a Business Information Center where small business owners will have access to Allegiance, HBDi, and SCORE (providers of free business counseling and assistance) to address their business needs. Allegiance is committed to supporting the needs of small businesses throughout the communities we serve.”
The Houston Chapter of SCORE, “Counselors to America’s Small Business,” is a valuable network of more than 80 volunteers who have been offering entrepreneurs, and small business owners, confidential business counseling services at no charge since 1965. SCORE is a Resource Partner of the U.S. Small Business Administration. SCORE offers free and confidential advice and long-term mentoring to help individuals start, grow and manage their business – from idea, to startup, to success. SCORE also offers low cost seminars and workshops for both start-up and in-business entrepreneurs, providing an excellent opportunity to network with local, small business owners.
Since 1986, HBDi has been helping to finance and build successful small businesses in Houston, Texas. As a community-based, non-profit organization, HBDi serves as a catalyst for stimulating economic growth and revitalizing communities in Houston, Texas and surrounding areas. According to Mitchell, developing this exciting new partnership with Allegiance Bank and SCORE will be extremely beneficial to the overall community that they serve.
“Empowering small businesses to grow and create jobs that will result in stronger neighborhoods and communities is our primary objective,” said Mitchell. “Having the Allegiance Bank Loan Production Office located onsite in the Business Information Center provides an opportunity for aspiring entrepreneurs and small business owners access to expanded capital, coupled with business planning assistance in one convenient location.”
For more information about SCORE, please visit www.houston.score.org; for more information about Allegiance Bank, please visit www.allegiancebank.com; and for more information about Houston Business Development Inc. (HBDi), please visit www.hbdi.org.