Business

Liberty Bank is a proud partner of the $5 Million BuildNOLA Mobilization Fund

NEW ORLEANS DATA NEWS WEEKLY — Liberty Bank and Trust Company announced its partnership with the City of New Orleans, Newcorp, Inc., the Kresge Foundation J. P. Morgan/Chase, and Living Cities Catalyst Impact Fund to create a BuildNOLA Mobilization Fund. The fund will provide up to $10 million in capital for Disadvantaged Business Enterprises (DBE’s) to access work in the City of New Orleans’ Green Infrastructure rebuilding program

Published

7 years ago

April 23, 2019

Oakland Post

By Data News Staff Edited Report

Liberty Bank Announces Partnership that will Provide Capital to DBE’s

Liberty Bank and Trust Company announced its partnership with the City of New Orleans, Newcorp, Inc., the Kresge Foundation J. P. Morgan/Chase, and Living Cities Catalyst Impact Fund to create a BuildNOLA Mobilization Fund. The fund will provide up to $10 million in capital for Disadvantaged Business Enterprises (DBE’s) to access work in the City of New Orleans’ Green Infrastructure rebuilding program over the next 6 years. Liberty also participates in a similar program in Detroit, Michigan.

With over $250 million anticipated infrastructure work and the City’s 35% DBE goal, $87 million in construction opportunities will be designated for small and minority businesses as New Orleans continues to rebuild. The City has designated Newcorp to manage the BuildNOLA Mobilization Fund.

Newcorp is a local Community Development Fund Institution (CDFI), which provides technical and financial assistance to disadvantaged businesses. Newcorp will receive applications and will help DBE’s access loans.

Liberty Bank Committed to BuildNOLA Fund

Liberty is a major investor in the BuildNOLA Fund with a $4 million commitment towards the goal of raising $10 million for the fund. The other entities are providing capital, technical assistance and networking.

“Access to capital continues to be the most important factor limiting the establishment, expansion and growth opportunities for firms”, says Alden J. McDonald, President and CEO of Liberty Bank and Trust Co. “These businesses are an engine of employment and economic development and we are proud to be able to provide a means to sustain them within our communities.”

Drextel Amy, President of Liberty’s Michigan Region, where Liberty is a major investor in an Entrepreneurs of Color Fund, says “Liberty Bank is keenly aware of the need to provide capital to small business enterprises. There are many small business enterprises that have the expertise to perform high quality work that don’t have consistent access to capital. Providing capital to these entrepreneurs effectively allows them to gain access to public and private sector contracting opportunities.”

The BuildNOLA Mobilization Fund is another effort by the City of New Orleans to make sure the 35% DBE goal becomes a reality.

This article originally appeared in the New Orleans Data News Weekly.

Oakland Post

Posts by Oakland Post

Up Next

COMMENTARY: Coming together in Support for a Better New Orleans for All

Don't Miss

Career Fair targets professionals of color

Oakland Post

Click to comment

Art

After 10-Year Wait, Fillmore Heritage Center Reopens in San Francisco

After serving as the economic and cultural hub of the Fillmore’s historically Black community for more than a decade, the center’s closure ended what was called the “Rebirth of the Cool,” referring to the neighborhood’s role during the height of Black Jazz in the United States.

Published

17 minutes ago

June 10, 2026

bpusa-syndication

Rev. Amos Brown of Third Baptist Church addresses community members at the Fillmore Heritage Center ribbon cutting. Photo by Linda Parker Pennington.

By Linda Parker Pennington, Special to The Post

Last Saturday morning, the cloudy skies cleared just as the highly anticipated ribbon-cutting ceremony began, marking the reopening of the Fillmore Heritage Center at 1330 Fillmore and Eddy.

The complex – which had once included Yoshi’s Jazz Club, the Lush Life Art Gallery, the Koret Heritage Lobby, a 54-seat microcinema, and the Black-owned 1300 On Fillmore restaurant – shuttered in 2015.

San Francisco Mayor Daniel Lurie announcing the reopening of the Fillmore Heritage Center. Erika Scott, owner of Honey Art Studio, looks on with pride. Photo by Linda Parker Pennington.

“The Fillmore is the most important neighborhood in San Francisco’s history for centering Black culture, music, business, and community, and has shaped this City and influenced the entire country,” said San Francisco Mayor Daniel Lurie to the gathering of more than 100 community leaders, business owners, and public officials. “This building reflects the deep roots of the Fillmore. Urban renewal left deep scars that are still felt today. This Center celebrates a strong Black community that continues to shape San Francisco. I am proud to join the community as we reopen the Fillmore Heritage Center.”

Although the previous stakeholders will not be returning to the center, spaces are available for nonprofit organizations and ventures, such as Fillmore native Ericka Johnson’s Honey Art Studio.

“This Center will be an economic engine and a thriving venue that shines a light on the Black-owned businesses in this neighborhood and lifts the entire district,” Lurie continued. “Our City is committed to this community for the long term.”

“We’re excited to collaborate with the City to finally reopen these doors,” said Ken Johnson, a videographer and community leader who’d been lobbying for the reopening of the center. “It’s an opportunity to showcase the entrepreneurship and creative spirit of this ‘Harlem of the West’ and the ‘Rebirth of the Cool,’ grounded in our uniquely gifted Fillmore community.”

This month, through its Office of Economic and Workforce Development, the city will begin renting the building’s noncommercial spaces for pop-up events celebrating local talent, arts, and entertainment primarily centered in the Fillmore.