BIRMINGHAM, Ala. – April 24, 2020 – The Regions Foundation, an Alabama-based nonprofit initiative of Regions Bank that supports community investments, on Friday announced a $100,000 grant for Communities Unlimited, a Community Development Financial Institution (CDFI) that is helping small businesses affected by the coronavirus.
With its approach of connecting people to solutions that sustain healthy businesses, healthy communities and healthy lives, Communities Unlimited works to meet financial needs for clients in underserved areas of Arkansas, Oklahoma, Texas, Louisiana, Mississippi, Alabama and Tennessee.
We are so impressed with the Regions Foundation’s rapid response to support our work with small businesses hit hard by COVID-19.
Ines Polonius, CEO of Communities Unlimited
“At Communities Unlimited, we are so impressed with the Regions Foundation’s rapid response to support our work with small businesses hit hard by COVID-19,” said Ines Polonius, CEO of Communities Unlimited. “Shortly after the national emergency was announced, the Regions Foundation reached out to ask how they could help. And help they did! Their $100,000 commitment allows us to expand the managerial assistance and capital we provide to small businesses throughout our seven-state footprint from Alabama to Texas. Every day, our staff is working hard to help entrepreneurs apply for federal disaster resources, develop strategies to generate sales while complying with social distancing, and then prepare for a strong reboot when restrictions are lifted. We appreciate the Regions Foundation’s community partnership in this important work.”
Resources from Communities Unlimited that are specific to coronavirus impacts can be found at this link.
“Small businesses are vital to the strength of our communities, and during this unprecedented challenge, our goal is to help entrepreneurs in several ways, including by supporting important resources that are available to them,” said Leroy Abrahams, head of Community Affairs for Regions Bank. “Communities Unlimited and additional CDFIs receiving grants from the Regions Foundation are working with small businesses directly, connecting them with valuable assistance and experience to help them weather this storm. We are honored to support their mission across several states as part of our comprehensive response to COVID-19.”
The Regions Foundation is currently identifying additional nonprofits for grants in support of small-business assistance; those grants will be announced 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.