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Carolina Small Business Development Fund Receives the SunTrust Foundation Annual Lighting the Way Award and $25,000 Grant

October 10, 2017 / Janice Rojas / News, Press Releases

RALEIGH, NC – To recognize Carolina Small Business Development Fund (CSBDF) for the positive impact it makes building financial confidence in Raleigh, NC, the SunTrust Foundation has awarded the organization with its annual Lighting the Way Award.

The award, which includes a $25,000 grant, is given to select nonprofits each year that have a specific focus on one or more of the Foundation’s four strategic financial well-being areas – financial education, financial counseling, career readiness/workforce development, and small business/entrepreneurship.

“It is an honor to be recognized for CSBDF’s efforts to help small businesses grow and expand in the state of North Carolina,” said Lenwood V. Long, Sr., President/CEO of CSBDF.  “When we help small businesses, we are helping the economy to flourish and these funds allow us to continue to fulfill our mission of fostering economic development by providing capital and technical assistance to underserved communities.”

This year the Lighting the Way Awards were given to 30 nonprofit organizations across the Southeast and Mid-Atlantic region, totaling $800,000 in grants.

“We are honored to award Carolina Small Business Development Fund with our 2017 Lighting the Way Award,” said Chris Bell, president of the Triangle region at SunTrust Bank, speaking on behalf of the Foundation. “We are committed to helping people move from financial stress to confidence and know that by supporting organizations with the same goals, we can truly make a difference in people’s lives.”

Since its inception in 2008, the SunTrust Foundation has been committed to SunTrust’s purpose of Lighting the Way to Financial Well-Being through community partnerships with educational institutions and nonprofits. Today the Foundation has provided more than $112 million in grants, including last year’s total of $16.6 million in grants to more than 1,500 nonprofit organizations.

About SunTrust Foundation

The SunTrust Foundation is committed to SunTrust Bank’s purpose of Lighting the Way to Financial Well-Being by engaging with local and national organizations to advance financial confidence. Grants and activities focus primarily on financial education, financial counseling, career readiness and small business/entrepreneurship, in addition to local community grants. The SunTrust Foundation supports American Red Cross disaster relief efforts and contributes as a United Way Global Corporate Leader. Established in 2008, the SunTrust Foundation has proudly provided grants totaling more than $112 million throughout the United States.

About Carolina Small Business Development Fund

Carolina Small Business Development Fund, previously known as The Support Center, has a mission to foster economic development in underserved communities by providing capital, business services, and policy research to support small businesses. Since 2010, CSBDF has invested more than $40.6 million through 566 loans to small businesses across North Carolina helping to create or retain more than 1,829 jobs. For more information, please visit www.carolinasmallbusiness.org.

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MEDIA CONTACT:
Janice Rojas
919.928.5101
jrojas@carolinasmallbusiness.org