BIRMINGHAM, Ala. – April 24, 2020 – The Regions Foundation, a nonprofit initiative of Regions Bank that supports community investments, on Friday announced a $25,000 grant for Arkansas Capital Corporation, a Community Development Financial Institution (CDFI) that is helping small businesses affected by the coronavirus.
With its focus on revitalizing communities by offering flexible capital solutions to meet the unique needs of entrepreneurs, small businesses and other commercial projects, Arkansas Capital Corporation works to meet financial needs for clients in underserved areas of Arkansas and beyond.
Arkansas Capital is committed to doing its part in helping small businesses that are struggling through the challenges of an economy profoundly impacted by the pandemic.
Sam Walls, President and COO of Arkansas Capital
“As a mission-driven nonprofit, Arkansas Capital is committed to doing its part in helping small businesses that are struggling through the challenges of an economy profoundly impacted by the pandemic,” said Sam Walls, President and COO of Arkansas Capital. “This grant from the Regions Foundation certainly enhances that mission and is very much appreciated.”
Leroy Abrahams, head of Community Affairs for Regions Bank, said CDFIs are a crucial component of a comprehensive community response by Regions to COVID-19.
“Small businesses are facing extraordinary challenges, and through this grant to Arkansas Capital Corporation and other CDFIs, the Regions Foundation is working to support important resources that are available to help,” Abrahams said. “In addition, our teams at Regions Bank are reaching out and responding to bank clients to explore various options. Regions is invested in the success of our communities. We will continue to seek additional ways to use our resources, experience and insights to support their recovery.
The Regions Foundation has announced support for several CDFIs across the Regions footprint and is currently identifying additional nonprofits for grants, which will be issued in the coming weeks. Also, the Foundation recently announced it will match, dollar-for-dollar, donations by Regions Bank associates to United Way chapters and Community Foundations responding to COVID-19 needs.
Further, Regions Bank continues to offer a series of financial options for customers suffering financial impacts from COVID-19. Additional information on Regions Bank resources for those affected by the coronavirus can be found at www.regions.com/coronavirus.
About Regions Foundation
Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $133 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.