Mechanics and Farmers Bank (M&F Bank), one of the country’s largest Black-owned banks, has received a $3 million deposit from ChannelAdvisor Corp. to help minority-owned businesses grow and reach sustainability.

The founders were successful businessmen and community leaders who saw a need and came together to help address it. The bank’s mission is to “enhance the wealth and well being of the communities that we serve by providing competitive and holistic financial solutions, with particular emphasis on the financial needs of underserved populations and geographies.”

This latest partnership, cemented by the $3 million deposit, is a step in that direction.