INDIANAPOLIS, Ind. – April 30, 2020 – The Regions Foundation, a nonprofit initiative of Regions Bank that supports community investments, on Thursday announced the latest in a series of grants to support organizations that are helping small businesses impacted by COVID-19.
Two organizations in Indianapolis are among those receiving grants in this latest installment:
- Indy Chamber: Dedicated to uplifting businesses across Indianapolis, the Indy Chamber launched an online Rapid Response Hub with tools and resources to help companies navigate the crisis. This includes a Rapid Response Loan Fund providing amounts ranging from $1,000 to $25,000 to meet a range of short-term emergency needs. The Indy Chamber is receiving a $50,000 grant from the Regions Foundation.
- LISC Indianapolis: Local Initiatives Support Corporation (LISC) Indianapolis helps resident-led, community-based development organizations transform distressed communities and neighborhoods into healthy ones. By mobilizing corporate, government, and philanthropic support, LISC provides financing, technical advice, management and program consulting, training, and policy support to neighborhoods. During the pandemic, LISC is offering small-business assistance, including grants and low-interest loans, resources for borrowers and grantees, and more. LISC Indianapolis is receiving a $50,000 grant from the Regions Foundation.
“Community partners like the Regions Foundation allow us to quickly get financial resources in the hands of small-business owners as they address the impact of COVID-19,” said Indy Chamber President and CEO Michael Huber. “The demand for our Rapid Response Loans has been tremendous, but this offering couldn’t be possible without the support of organizations like the Regions Foundation that share our dedication to creative entrepreneurs and small businesses as the backbone of our local economy.”
Tedd Grain, Executive Director of LISC Indianapolis, added, “Together with residents and partners, LISC aims to address the challenges of COVID-19 with a distinct focus on equity and inclusion. The resiliency of our women-and-minority-owned enterprises will be critical to our economic recovery. We must prioritize these investments in our traditionally under-resourced and connected Indianapolis communities.”
Regions Bank leadership in Indianapolis commented on the importance of supporting community organizations as part of a comprehensive focus on addressing current needs.
The grants announced today … are part of an ongoing commitment to meet community needs during this crisis.
Erik Miner, Greater Indianapolis Market Executive for Regions Bank
“The resources the Indy Chamber and LISC Indy are providing to help small businesses navigate these unprecedented times are vital,” said Erik Miner, Greater Indianapolis Market Executive for Regions Bank. “The grants announced today by the Regions Foundation are part of an ongoing commitment to meet community needs during this crisis.”
The grants announced by the Regions Foundation on Thursday are in addition to grants announced on April 24 for several Community Development Financial Institutions. The Regions Foundation continues to identify organizations for financial support, and more grants will be issued in the coming weeks. The Regions Foundation also announced recently that it will match donations by Regions Bank associates to United Way organizations and Community Foundations responding to COVID-19 needs.
Also, Regions Bank has issued financial support to a variety of additional nonprofits, and the bank recently donated a series of advertisements to food banks as well. Through that donation, advertisements originally purchased by Regions to promote bank services were instead given to food banks to encourage viewers and readers to financially support food bank outreach during the crisis.
Separately, Regions Bank continues to offer a series of options for customers suffering financial impacts from COVID-19. Additional information on Regions Bank resources 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.