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Novant Health and M&F Bank providing loans to suppliers impacted by COVID-19


WINSTON-SALEM, N.C. ― Novant Health and M&F Bank are expanding their Diverse Supplier Community Reinvestment Program to offer low-interest loans to Novant Health-certified and diverse-owned suppliers who are facing challenges due to the novel coronavirus (COVID-19) pandemic.

“Throughout the years, Novant Health has relied on our suppliers’ support to help our organization continue to thrive and provide remarkable care,” said Mark Welch, senior vice president of supply chain at Novant Health. “Now, it’s our turn to support them during this time of economic disruption. At Novant Health, we recognize that small businesses are vital economic engines in every community and acknowledge the severe impact the novel coronavirus may cause to their sales and supply chain. We want to ensure these businesses remain resilient and hope these loans will help them through the coronavirus outbreak.”

Novant Health is committed to developing mutually beneficial and successful partnerships with diverse suppliers by incorporating them into the everyday process of category reviews and product or service bids. Novant Health views supplier diversity as an important part of its diversity commitment, recognizing that diverse businesses remain challenged with securing capital for business growth, thereby impacting their ability to more effectively compete.

“We strive to be an industry leader dedicated to the economic growth of small businesses who are committed to our communities,” said Tanya Blackmon, executive vice president and chief diversity, inclusion and equity officer at Novant Health. “Novant Health recognizes that diversity, inclusion and equity go beyond the four walls of our facilities and we aim to support diverse-owned businesses throughout the community.”

The Diverse Supplier Community Reinvestment Program was established in 2018 by Novant Health and M&F Bank. The program aims to grow the capacity of businesses owned by women, ethnic minorities, veterans, LGBTQ individuals and people with disabilities by guaranteeing loans who are suppliers with Novant Health.

For more information about the loan program, visit NovantHealth.org/supplierdiversity.

Posted on Friday, March 27, 2020
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