Truist Commits $120M to Strengthening Black, Latinx and Women-Owned Small Businesses

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Yesterday, Bill Rogers, Chairman & CEO of Truist Financial Corporation, and Lynette Bell, President of Truist Foundation announced the bank’s $120 million commitment to strengthening and supporting Black, Latinx and women-owned small businesses across the country during an event at their Uptown Charlotte headquarters.  

As part of that overall commitment to small businesses, the company will make a $5 million national investment in Grameen America, including a $500,000 grant to Grameen America’s Charlotte portfolio, which will ultimately help generate $1.4 million in disbursements via 270 microloans to women entrepreneurs in one year. 

The bank’s new 2022 national commitment includes loans, investments and grants to organizations across the country, including:

  • Florida Community Loan Fund (FCLF) – $10 million
  • Local Initiatives Support Corporation (LISC) – $10 million
  • Empower the Change – $10 million
  • Grameen America – $5.5 million
  • Entrepreneur Backed Assets Fund (EBA) – $5 million
  • Minority Business Accelerator Fund (in conjunction with Cincinnati USA Regional Chamber) – $3 million
  • Asset Funders Network – $300,000
  • CommunityWorks – $300,000

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