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Community Fund of North Miami Dade announced as CornerSquare Community Capital’s newest CDFI partner

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Joining a 17-state program increasing investment in local communities, Community Fund of North Miami Dade (CFNMD), a subsidiary of the Opa-Locka Community Development Corporation (OLCDC), is partnering with CornerSquare Community Capital to make an even greater impact for small businesses in Miami-Dade, Broward, and Palm Beach Counties. Through this partnership, CFNMD has increased their lending…

Truist, NC Rural Center partner on $40M fund to support minority-owned businesses

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CornerSquare Community Capital, launched Wednesday by the NC Rural Center and Truist, is a new $40 million nonprofit fund to support  entrepreneurs of color, women, and low-to-moderate (LMI) income communities and individuals. “We’re thrilled to expand our partnership with Truist on this innovative program to help underserved small businesses with their single largest need – operating…

Storefronts in downtown Siler City, North Carolina on a sunny afternoon.

Truist teams with N.C. Rural Center on $40 million minority lending program

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Truist Financial announced a $40 million initial donation to help establish CornerSquare Community Capital, a new multistate fund formed by the nonprofit N.C. Rural Center based in Raleigh. CornerSquare will support selected community development financial institutions (CDFIs) by purchasing 25% loan participations. All of the funding will be directed to racially and ethnically diverse small…

Birds eye view of downtown streets and buildings.

Truist, NC Rural Center partner on $40M fund to support minority-owned businesses

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Truist Financial in Charlotte, N.C., has committed $40 million to help establish a new nonprofit loan fund intended to support diverse and women-owned businesses, with a particular focus on Black-owned small businesses. The loan fund, CornerSquare Community Capital, will support community development financial institutions by purchasing 25% loan participations. Doing so essentially frees up capital…

Truist Financial gives $40M to launch fund supporting underserved areas

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Truist Financial Corp. is donating $40 million to launch a nonprofit fund that supports undeserved communities. CornerSquare Community Capital is a new national fund that will work with community development financial institutions, or CDFIs, to help minority-and women-owned businesses. The businesses – which include small enterprise and microbusinesses- are in low-to moderate-income areas, primarily in…

Truist provides $40 million to national nonprofit fund

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Truist Financial Corp. said Wednesday it has provided a $40 million “initial donation” to help create CornerSquare Community Capital. It is the largest investment in this sector from Truist, as well as legacy BB&T Corp. and SunTrust Banks Inc. CornerSquare is designed to be a national nonprofit fund that will support selected community-development financial institutions.…