Who
Mike Scott, Senior Community Development manager for the West District, based in New Orleans, Louisiana
What
Scott has been selected as recipient of the 2024 Tru-Impact Community Advocate Award by TruFund Financial Services. TruFund is a Community Development Financial Institution (CDFI) that provides lending and technical assistance to create thriving and resilient small businesses and entrepreneurial ecosystems within underserved communities and among disadvantaged populations.
The Tru-Impact Community Advocate Award recognizes exceptional leadership in providing access to capital for underserved entrepreneurs and fostering economic growth and job creation in communities across the country.
Why
According to TruFund, Regions has been an exemplary partner to TruFund in their Southern Region supporting small businesses by providing access to capital, mentorship, and technical assistance. These efforts have played a crucial role in creating a more equitable small business environment.
The organization explained that Scott’s individual contributions have been instrumental in driving these efforts forward. “Your leadership, dedication, and hard work have profoundly impacted the lives of many entrepreneurs and underserved communities. The innovative solutions you have championed address the pressing need for access to capital and inspire others in the field to pursue similar transformative initiatives. Your dedication and innovative approach have empowered numerous entrepreneurs and significantly contributed to the economic vitality of communities in need.”
In his own words
“In my 17 years as Community Development manager at Regions, I have been part of a team doing extremely important work in the city of New Orleans. We have established long-term community partnerships with a host of organizations that are working to positively impact the community.
Specifically, we have collaborated with organizations developing affordable housing and stabilizing underserved neighborhoods. And we have supported job training, workforce development, educational and youth development programs throughout the city. And, importantly, we have supported programs that help small business owners – assisting them in growing their businesses and creating jobs.
Receiving the Tru-Impact Community Advocate Award is especially meaningful to me because small businesses are so vital to the health of our communities. Supporting small businesses in underserved communities fosters economic growth, creates local jobs, revitalizes neighborhoods, provides access to essential goods and services, and empowers community members. Small businesses are a primary source of new jobs in these communities, offering employment opportunities that might not exist otherwise, especially for residents with limited access to other employment options. When small businesses thrive in underserved areas, it can lead to increased investment, property value appreciation, and overall economic development within the neighborhood.
I’m very proud of the work we’ve done in this area, and I’m truly humbled and honored to be recognized by TruFund – a valuable community partner to Regions.”