Florida Banking November 2022

KUDOS

Amerant Bank Partners with Innovation Refunds to Offer Financial Solutions through the Employee Retention Credit Program

A merant Bank has partnered with Innovation Refunds, a financial technology company that assists small and medium-sized businesses to obtain cash incentives through the federal Employee Retention Credit (ERC) program. The ERC is a refundable tax credit against certain employment taxes, equal to 50 percent of the qualified wages an eligible employer pays to employees. The program was created to assist companies that have been negatively impacted by the pandemic. Innovation Refunds began providing its services in 2020. Since then, it has been able to provide financial solutions to thousands of companies, with billions in cash refunds available for small and medium-sized businesses.

“We are very pleased to partner with Innovation Refunds and continue providing financial solutions to our business clients,” said Yvonne Boucugnani, first vice president, head of SBA Lending. “Because we have such strong relationships with our clients, this new option creates a path to either stabilize an enterprise or help it continue growing.” “We are excited to partner with Amerant Bank and potentially assist hundreds of small businesses in Florida obtain millions of dollars in government incentives through our turnkey service,” said Howard Makler, Innovation Refunds CEO and Founder. “Amerant truly understands the needs of their customers and have been a pillar of the community for more than 40 years.”

Wells Fargo Awards NALCAB $1.1 Million to Advance Financial Health in Latino and Immigrant Communities

T heWells Fargo Foundation selected The National Association for Latino Community Asset Builders (NALCAB) for a $1.1 million grant to advance financial well-being and security in Latino and immigrant communities across the country. With Wells Fargo’s financial support, NALCAB has awarded 12 organizations with $35,000 in grant funding and customized financial health programming to help individuals and families access affordable financial products, strengthen their credit, increase their savings and income, and reduce debt. In addition, NALCAB will provide financial coaching certification training, along with partner International Rescue Committee, to 30 practitioners from the NALCAB network. “Financial health is the foundation for asset building,” said Marla Bilonick, NALCAB president and CEO.

“This investment in these 12 NALCAB member institutions, and the broader NALCAB network, will help move the economic needle for Latino and other underinvested communities, and aid in building a strong financial foundation for individuals and families from which they can launch their longer-term financial goals.” “As our communities continue to face economic headwinds, we need to expand access to financial health coaching and resources that can help people manage their finances better and build wealth,” said Bonnie Wallace, head of Financial Health Philanthropy at Wells Fargo. “This collaborative effort with NALCAB is one important way that we can reach Latino and Hispanic communities and increase the economic resilience of households across the nation.”

SHARE YOUR BANK’S STORY! Send details and photos of community service activities, personnel announcements, new hires and promotions to submissions@floridabankers.com.

WWW.FLORIDABANKERS.COM OCTOBER 2022 — 29