Southern Bancorp Community Partners Raises $2.5 Million to Expand Access to Capital
Southern Bancorp Community Partners (SBCP), lending partner of Southern Bancorp, has announced passing the $2.5 million mark in new capital to expand its lending. SBCP plans to raise a total of $5 million to expand its revolving loan fund to provide small business loans, microloans, mortgages and consumer loans in underserved communities in Arkansas and Mississippi. Because it faces fewer regulations than a depository institution, SBCP has greater flexibility in making loans that traditional lenders are unable to pursue, yet are desperately needed in rural communities. “On behalf of the many hard working people across our markets, I’d like to extend my gratitude to our investors who share our belief that a zip code should not determine one’s economic opportunity in life,” said Dominik Mjartan, CEO of SBCP.