Planters Bank launches Planters Impact Fund
Planters Bank recently announced the launch of Planters Impact Fund (PIF), a new nonprofit organization created to expand access to capital, strengthen economic stability, and support long-term community resilience across Mississippi, Louisiana, Tennessee and surrounding states.
Bank officials say Planters Impact Fund’s mission is simple: to cultivate economic opportunities to build resilient, thriving communities.
Established as a public charity and mission-aligned nonprofit affiliate of Planters Bank, a Community Development Financial Institution (CDFI) bank, Planters Impact Fund will focus on serving low- and moderate-income, rural, and underserved communities, where access to affordable capital and support services remains limited.
“Planters Impact Fund reflects our long-standing commitment to the communities we serve,” said Alan Hargett, President and CEO of Planters Bank. “By pairing capital with education, technical assistance, and strong partnerships, we can help individuals, families, and small businesses not only access opportunity, but sustain it.”
Planters Impact Fund will operate exclusively for charitable and educational purposes, delivering impact through three initiatives: a small business loan fund, affordable housing efforts and a scholarship program.
The specialized small business loan fund is designed for businesses that may not qualify under traditional lending guidelines. This fund will help bridge critical gaps by offering flexible, mission-driven lending to entrepreneurs who simply need a chance to grow.
The PIF will contribute to affordable housing efforts by supporting partnerships and programs that make quality housing more accessible for families in need. These investments will help strengthen neighborhoods and improve long-term economic outcomes.
The fund will also introduce a scholarship program to support students across the communities we serve, opening doors for the next generation of leaders.
Planters Impact Fund will collaborate closely with Planters Bank, housing nonprofits, developers, local governments, foundations, corporations, and public agencies to maximize resources and ensure programs complement, rather than duplicate, existing efforts. This integrated model allows participants to access multiple services, such as pairing a small business loan with technical assistance or connecting housing support with financial education.
“Our communities are strongest when opportunity is accessible and support systems work together,” said Jessica Milam, Board Member and Secretary for Planters Impact Fund. “Planters Impact Fund is designed to meet people where they are and walk alongside them to build a more secure future.”
Funding for PIF programs will come from philanthropic foundations, corporations, government sources, and individual donors.
For more information about Planters Impact Fund or partnership opportunities, visit www.plantersimpactfund.org or contact Jessica Milam at [email protected].
