Additional Grants from Regions Foundation to Support Small-Business Assistance During COVID-19
April 30 2020 - 09:00AM
Business Wire
Grants to help community organizations supporting small
businesses in several states.
The Regions Foundation on Thursday announced the latest in a
series of grants to support organizations that are helping small
businesses impacted by COVID-19. The Regions Foundation is an
Alabama-based nonprofit initiative of Regions Bank that supports
community investments.
“Across our communities, many nonprofit organizations are
providing essential services to small businesses to help them
through these very difficult times,” said Marta Self, Executive
Director of the Regions Foundation. “The Regions Foundation is
allocating significant resources to support nonprofits and the
vital assistance they are providing to the small-business
community. This is a major component of Regions’ comprehensive
response to COVID-19, and we will continue to identify more avenues
for support.”
Combined, the grants announced Thursday total $575,000. From
that total, investments of varying amounts will be granted among
the following organizations:
- Florida Community Loan Fund: Florida Community Loan Fund
is a nonprofit, multifaceted financing entity with a 25-year
history of providing flexible capital and expertise to nonprofits
and mission-aligned for-profits serving people and places outside
the economic mainstream across Florida. FCLF is nationally
recognized for its work as a certified Community Development
Financial Institution (CDFI) and Community Development Entity (CDE)
through the U.S. Dept. of Treasury and as a member of the Federal
Home Loan Bank of Atlanta.
- Branches: A nonprofit focused on helping working
families and their children break the cycle of generational
poverty, Miami-based Branches is using a virtual coaching model to
help micro businesses facing financial challenges due to the virus.
This is in addition to student services and financial wellness
opportunities sustained by Branches amid the pandemic.
- Conexión Américas: Based in Nashville, Conexión Américas
builds a welcoming community and creates opportunities where Latino
families can belong, contribute, and succeed. As the largest
Latino-serving organization in Tennessee, Conexión Américas serves
more than 9,000 individuals and their families across the Volunteer
State each year. Conexión Américas is currently working to support
many people whose incomes have been impacted by COVID-19. This
includes access to technical assistance, a community of peers, and
support from business experts. The nonprofit is also sharing
important information related to COVID-19 throughout the Hispanic
community.
- Invest Atlanta: As a driver of economic prosperity and
equity in Atlanta, Invest Atlanta has been working to meet
tremendous demand among the local business community in recent
weeks. Invest Atlanta staff at all levels are working to connect
entrepreneurs with resources to help keep their companies viable
and positioned to sustain or resume services. The grant from the
Regions Foundation will help support Invest Atlanta’s
outreach.
- St. Louis Community Foundation: The St. Louis Community
Foundation (SLCF) works year-round to connect donor resources with
community needs. Given the strong demand for COVID-19 relief in
recent weeks, the SLCF is advocating among the donor community on
behalf of businesses, encouraging prospective donors to consider a
range of options for providing funds that will offer short-term
relief for businesses and their employees.
- The Women’s Fund of Greater Birmingham: With a mission
to accelerate economic opportunity for women and their families
through philanthropy, research, and advocacy, the Women’s Fund of
Greater Birmingham is delivering emergency philanthropy related to
COVID-19. Specifically, the Rapid Operating and Relief (ROAR) for
Women Fund is raising resources to support child care centers
serving essential workers.
- Small Business Relief Fund – West Alabama Chamber: The
Small Business Relief Fund was launched by the Chamber of Commerce
of West Alabama in partnership with the Community Foundation of
West Alabama. The fund is geared toward businesses in nine West
Alabama counties that have employed anywhere from two to 50 FTE
(full-time equivalent) people and are experiencing financial
difficulties prompted by COVID-19.
- Indy Chamber: Dedicated to uplifting businesses across
Indianapolis, the Indy Chamber launched an online Rapid Response
Hub with tools and resources to help companies navigate the crisis.
This includes a Rapid Response Loan Fund providing amounts ranging
from $1,000 to $25,000 to meet a range of short-term emergency
needs.
- LISC Indianapolis: Local Initiatives Support Corporation
(LISC) Indianapolis helps resident-led, community-based development
organizations transform distressed communities and neighborhoods
into healthy ones. By mobilizing corporate, government, and
philanthropic support, LISC provides financing, technical advice,
management and program consulting, training, and policy support to
neighborhoods. During the pandemic, LISC is offering small-business
assistance, including grants and low-interest loans, resources for
borrowers and grantees, and more.
- LISC Central Illinois: Connecting small businesses with
investment capital and additional resources to help create
resilient and inclusive communities, Local Initiatives Support
Corporation (LISC) Central Illinois serves Greater Peoria,
Springfield, Champaign, Decatur and additional cities and rural
areas. LISC Central Illinois leadership is working to match the
current needs of local businesses with resources available. Regions
Bank has long supported LISC, providing both financial investments
and technical assistance to support its services.
- Louisiana Small Business Development Center: Serving
businesses in all 64 Louisiana parishes, the Louisiana Small
Business Development Center (LSBDC) provides management and
technical assistance to companies, including virtual assistance
during COVID-19. LSBDC personnel are working to help businesses
mitigate and survive the financial impacts of the pandemic by
sharing information on federal programs available to help, as well
as other funding sources.
The grants announced by the Regions Foundation on Thursday are
in addition to grants announced on April 24 for several Community
Development Financial Institutions. The Regions Foundation
continues to identify organizations for financial support, and more
grants will be issued in the coming weeks. The Foundation also
announced recently that it will match donations by Regions Bank
associates to United Way organizations and Community Foundations
responding to COVID-19 needs.
Also, Regions Bank has issued financial support to a variety of
additional nonprofits in various communities, and the bank recently
donated a series of advertisements to food banks as well. Through
that donation, advertisements originally purchased by Regions to
promote bank services were instead given to food banks to encourage
viewers and readers to financially support food bank outreach
during the crisis.
Separately, Regions Bank continues to offer a series of options
for customers suffering financial impacts from COVID-19. Additional
information on Regions Bank resources can be found at
www.regions.com/coronavirus.
About Regions Foundation
Regions Foundation supports community investments that
positively impact the communities served by Regions Bank. The
Foundation engages in a grantmaking program focused on priorities
including economic and community development; education and
workforce readiness; and financial wellness. The Foundation is a
nonprofit 501(c)(3) corporation funded primarily through
contributions from Regions Bank.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $133 billion in
assets, is a member of the S&P 500 Index and is one of the
nation’s largest full-service providers of consumer and commercial
banking, wealth management, and mortgage products and services.
Regions serves customers across the South, Midwest and Texas, and
through its subsidiary, Regions Bank, operates approximately 1,400
banking offices and 2,000 ATMs. Regions Bank is an Equal Housing
Lender and Member FDIC. Additional information about Regions and
its full line of products and services can be found at
www.regions.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200430005097/en/
Media Contact: Jeremy D. King 205-264-4551 Regions News
Online: regions.doingmoretoday.com Regions News on Twitter:
@RegionsNews
Regions Financial (NYSE:RF)
Historical Stock Chart
From Feb 2024 to Mar 2024
Regions Financial (NYSE:RF)
Historical Stock Chart
From Mar 2023 to Mar 2024