BIRMINGHAM, Ala. – April 24, 2020 – The Regions Foundation, a nonprofit initiative of Regions Bank that supports community investments, on Friday announced a $100,000 grant for PeopleFund, a Community Development Financial Institution (CDFI) that is helping small businesses affected by the coronavirus.
PeopleFund is focused on creating economic opportunities and financial stability across Texas. The nonprofit reaches the underserved through access to capital, education and resources to build healthy small businesses.
It would not be possible to sustain these efforts without the generous support from organizations like the Regions Foundation.
Gustavo Lasala, President and CEO of PeopleFund
“Small businesses, especially the most vulnerable, those that are minority-owned, and those in low- and moderate-income communities, need our help, and they need it now,” said Gustavo Lasala, President and CEO of PeopleFund. “Very early in the crisis, PeopleFund started offering payment accommodations and bridge loans with zero interest and no payments for six months. In addition to that, we are helping business owners develop their own disaster-response plans and navigate through the federal assistance available. It would not be possible to sustain these efforts without the generous support from organizations like the Regions Foundation.”
PeopleFund’s resources specific to coronavirus impacts can be found at this link.
“We recognize the extreme challenges that small businesses are facing, and through this grant to PeopleFund and other CDFIs, the Regions Foundation is focused on supporting important resources that can help during this time,” said Leroy Abrahams, head of Community Affairs for Regions Bank. “In addition, our teams at Regions Bank are reaching out and responding to bank clients to explore various financial 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 the recovery of our communities.”
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.