CornerSquare Community Capital Supports Ethnically, Racially Diverse and Women-Owned Small Businesses
A $40 million initial donation from Truist Financial Corporation* has established CornerSquare Community Capital. This new national nonprofit fund will help select community development financial institutions (CDFIs) increase their lending capacity with their existing capital to support more small businesses.
Access to Capital for Entrepreneurs (ACE) is a CDFI partner participating in the Truist loan fund administered by CornerSquare, which operates as a subsidiary of NC Rural Center, a nonprofit that has supported small business owners and entrepreneurs in low- and moderate-income communities for more than 30 years.
Lynette Bell, president of the Truist Foundation, Patrick Woodie, president of NC Rural Center, and Martina Edwards, chief of strategic partnerships at ACE, spoke with Rose Scott, host of "Closer Look" on WABE in Atlanta, Georgia.
Listen to them discuss the importance of public and private partnerships in helping underserved small businesses thrive.
* Truist's $40 million donation to help establish CornerSquare represents funding from both the Truist Foundation Inc. and the Truist Charitable Fund. This new initiative is part of Truist's larger commitment to support community development efforts in low- and moderate-income and ethnically and racially diverse communities.
