BIRMINGHAM, Ala.--(BUSINESS WIRE)--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.
