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Fifth Third Announces $20 Million Neighborhood Investment to Accelerate Revitalization in Grove Park

上周, Fifth Third Bank and Enterprise Community Partners announced the launch of a $180 million neighborhood program to accelerate revitalization in nine key majority-Black communities across seven states that have experienced disinvestment – including Grove Park in Atlanta.

Fifth Third intends to commit up to $20 million in lending, 投资, 和慈善事业的支持, including grants from the Fifth Third Foundation to the Grove Park neighborhood. The investment will include $2 million in grants and $18 million in affordable financing from housing to small business loans.

“The gift received by the Grove Park Foundation from Fifth Third Bank is a tremendous investment in the amazing residents of Grove Park and a vote of confidence to all who serve each day in this historic community,加文·麦金尼说, executive director of the Grove Park Foundation. “It is a commitment to youth and families that says we believe in you and your dreams, and we want to provide adequate resources and support to make home ownership, starting a business and wealth building a reality.”

The bank is collaborating with Enterprise Community Partners, a national nonprofit that exists to make a good home possible for millions of families without one. 在一起, they managed a criteria-based, invitation-only application process to select nine majority-Black neighborhoods that have seen a sustained period of disinvestment. Enterprise will provide technical assistance to support each neighborhood in developing and implementing a plan tailored to the unique challenges it faces. The national nonprofit will then assist with assessing the plan’s effectiveness at improving the economic well-being of residents and small locally owned businesses. 其他解决方案, the program will include 投资 in small businesses, Homeownership, and workforce development to create successful outcomes such as increased employment, 经济稳定, 和经济增长.

三年以上, the program will focus on organizations that create cross-sector partnerships to serve the communities within Fifth Third’s retail banking footprint.

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