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Fifth Third Foundation Donates $75,000 to Carolina Small Business Development Fund to Support COVID-19 Relief Efforts and Small Business Programming

November 9, 2020 / Alisha Brown / Community Development, News, Press Releases

RALEIGH – The Fifth Third Foundation has awarded $75,000 to Carolina Small Business Development Fund (CSBDF) in 2020. The generous gifts that comprised the total amount came from the Foundation’s COVID-19 relief, recovery and resiliency funds and will assist the organization’s operations and small business programming.

CSBDF’s mission is inspired and driven by those it serves: entrepreneurs and small business owners. CSBDF’s goal is to grow and support an engine of local economic growth through affordable financing, comprehensive technical assistance, and evidence-based policy research. The funds from the Fifth Third Foundation will help CSBDF further its mission and support programming for small businesses.

“We are grateful for strategic partners like the Fifth Third Foundation that share our mission of supporting small businesses across North Carolina especially during uncertain times,” said Kevin Dick, president and CEO, CSBDF. “Their support has been critical to sustainable operations and capital deployment to small businesses.”

In addition to operations support, The Fifth Third Foundation has made intentional efforts to support small business programming including those of CSBDF. These programs meet the needs of women entrepreneurs through one-on-one business coaching and counseling, workshops, seminars, networking opportunities, and technical assistance.

“Understanding the needs of the communities we serve is at the core of who we are at Fifth Third ,” said Joel Dancy VP, Mid-Atlantic Region Community and Economic Development Manager, Fifth Third Bank.  “The work that CSBDF is doing right now in our region is so important to the future of small business and we are proud to support that through the generous gift of the Fifth Third Foundation.”

About Carolina Small Business Development Fund

Carolina Small Business Development Fund fosters economic development in underserved communities through access to capital, business services, and policy research. Since 2010, the nonprofit CDFI has invested more than $68.4 million through 992 loans to small businesses across North Carolina helping to create or retain more than 4,181 full-time jobs. For more information, visit www.carolinasmallbusiness.org.

About the Fifth Third Foundation

Established in 1948, the Fifth Third Foundation was one of the first charitable foundations created by a financial institution. The Fifth Third Foundation supports worthy causes in the areas of health and human services, education, community development and the arts in the states where Fifth Third Bank operates.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of September 30, 2020, Fifth Third had $202 billion in assets and operated 1,122 full-service banking centers and 2,414 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2020, had $422 billion in assets under care, of which it managed $53 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.

 

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Media Contacts:

Alisha Brown, Carolina Small Business Development Fund

609-351-5293 | abrown@carolinasmallbusiness.org

Amber Darnell, Fifth Third Bank

704-808-5016 | amber.darnell@53.com