Fifth Third Foundation Donates $75,000 to Carolina Small Business Development Fund

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 the Carolina Small Business Development Fund (CSBDF) in 2020. The generous grants that make up the total amount come from the COVID-19 Foundation's relief, recovery and resiliency funds and will help 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. Fifth Third Foundation funds will help CSBDF further its mission and support small business programs.


"We are grateful for strategic partners like Fifth Third Foundation who share our mission to support North Carolina's small businesses, especially in uncertain times," said Kevin Dick, president and CEO of CSBDF. "Their support has been critical to sustainable operations and the deployment of capital to small businesses."


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

"Entender las necesidades de las comunidades a las que servimos es la base de lo que somos en Fifth Third", dijo Joel Dancy, vicepresidente, gerente de desarrollo económico y comunitario de la región del Atlántico medio, de Fifth Third Bank. "El trabajo que la CSBDF está haciendo ahora mismo en nuestra región es muy importante para el futuro de las pequeñas empresas y estamos orgullosos de apoyarlo a través de la generosa donación de la Fundación Fifth Third".


About the Carolina Small Business Development Fund

The Carolina Small Business Development Fund fosters economic development in disadvantaged 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, www.carolinasmallbusiness.org.


About 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 Fifth Third-branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides customers with access to approximately 52,000 surcharge-free ATMs throughout the United States. Fifth Third operates four core businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth and 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 Registered Investment Advisor and Trust 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 founded in 1858. Fifth Third Bank offers deposit and credit products. Member FDIC.


 

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


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