Inspiring Stories: Truist Foundation and Community First Fund Support Diverse Entrepreneurs by Aligning Capital With Social Justice in Pennsylvania
Meet Mamie Sardnee, owner of a thriving neighborhood grocery store in Southwest Philly’s Little Africa
Community First Fund was founded by Black and Latino community visionaries with a dream to provide much-needed capital to low-income entrepreneurs and community organizations serving the poor in South Central Pennsylvania. These leaders created community development loan institutions (CDFI) – some of the first to form across the country – to address the opportunity gap and make capital accessible to all residents. To date, Community First Fund has provided $487 million in loans and investments across central and eastern Pennsylvania, 71% of which has gone to businesses owned by people of color.
Over the last decade, there has been a notable increase in Black, Hispanic, Latino, and Asian residents in Pennsylvania, presenting an opportunity to rebuild a racially equitable local economy. Learn how Truist Foundation’s $2.25 million grant to Community First Fund’s Economic Justice Fund, which provides capital to Black and Latino entrepreneurs across Eastern and Central Pennsylvania, is helping small business owners—like Mamie Sardnee, owner of Woodland Produce in Philadelphia—grow their businesses and achieve their dreams.
To learn more about the transformative power of access to capital, read the full story here.
About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, Truist Foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. Truist Foundation's grants and activities focus on building career pathways to economic mobility and strengthening small businesses. Learn more at truist.com/foundation.
