Every business starts somewhere and over time will grow and evolve. Unfortunately, not all businesses—especially minority-owned businesses—have the same access to capital, key decision makers, and information. For minority-owned businesses in the Tampa Bay area, the Minority Business Accelerator (MBA) steps in to fill those needs.
“We’re successful due to the strong investment and support from our members like Valley,” says Dr. Bob Rohrlack, CCE, President & CEO, Tampa Bay Chamber. “The financial support is great, but more importantly, the involvement of the leadership from Valley has made a huge impact on the success of our cohort members. Thank you for your support!”
Valley Bank has been a proud supporter of the MBA since the program’s inception three years ago. The program provides practical tools for change that help enrolled businesses increase their capacity, create jobs and build wealth. Through collaboration with industry experts, these businesses develop strategic, results-driven solutions specific to their unique needs. The MBA also engages the local business community to utilize local and minority-owned businesses. All the businesses involved have access to ongoing support to ensure their long-term growth. These efforts have resulted in job creation, business prosperity and economic inclusion.
Valley’s Chief Credit Officer in Florida, Greg Olivier, is actively involved in the Advisory Council. He provides program recommendations, evaluates the program’s finances and assists with recruiting minority businesses, volunteering and fund development initiatives. John Cimino and Jason Priede, Valley Commercial Credit Underwriters, also serve as Financial Coaches for the MBA businesses. They regularly meet with the companies to review the previous month’s performance and outline goals and general strategic objectives.
“We’re proud of our ongoing relationship with the Tampa Bay Chamber Minority Business Accelerator program to support entrepreneurship efforts, workforce development and economic inclusion,” says Greg Olivier. “I’m excited for what’s to come as we continue our efforts to provide financial services, resources and programs to help minority-owned businesses thrive.”
In 2021, the Minority Business Accelerator cohorts reported:
- $7.6 M in gross sales
- 215 new jobs created
- 190 vacancies filled
- 43 new corporate contracts
- $625,000 companies secured new capital
- 15+ new assets acquired
- 50+ strategic introductions made
Looking to our fourth year with the program, Valley is honored to partner with a program that has such a positive impact on the local community!