Meridian Health Plan of Illinois and Liberty Bank and Trust Partner to Create Small Business Loan Program to Support and Empower Diverse and Small Businesses in Illinois | PR Newswire [Video]

$500,000 grant from Meridian will support $2.5 million in lending power to fuel growth and community development

, /PRNewswire/ — Meridian Health Plan of Illinois, Inc. (Meridian), a provider of government-sponsored managed care services to families, children, seniors and individuals with complex medical needs and a Centene Corporation company (NYSE:CNC), today announced its support of Liberty Bank and Trust’s small business loan program to offer loans to small businesses, including diverse and minority-owned, ranging from $10,000 to $50,000. Under the partnership, Meridian has granted $500,000 in seed funding to Liberty’s Lighting Loan Program to support $2.5 million in lending power to minority owned or led small businesses based in Illinois. Businesses may qualify for funding following a fast application process in as little as 48 hours.

As of October, small business owners may submit a loan application to access capital and supplemental educational programming to enhance their capabilities, improve their operations and bolster their ability …