National Nonprofit Fund Established To Support Racially Diverse And Women-Owned Businesses

October 8th, 2020

From left to right, Lynette Bell, president of the Truist Foundation; Patrick Woodie, president of the N.C. Rural Center; and Martina Edwards, chief of strategic partnerships at Access to Capital for Entrepreneurs.

Courtesy of the Truist Foundation, ACE, and the NC Rural Center

A local nonprofit community lender will be able to help small business owners in metro Atlanta.

Martina Edwards, who serves as the chief of strategic partnerships at Access to Capital for Entrepreneurs, says it’s all thanks to CornerSquare Community Capital, a new national nonprofit fund created to support racially diverse and women-owned businesses during the COVID-19 pandemic and beyond.

President Lynette Bell of the Truist Foundation says the foundation recently donated $40 million to create the nonprofit fund that will support selected community development financial institutions, or CDFIs. The CDFIs will then allocate funds to small business owners.

Edwards and Patrick Woodie, president of the N.C. Rural Center, joined “Closer Look” on Thursday. They talked with show host Rose Scott about Truist’s partnership with CornerSquare Community Capital and how small business owners can apply for loans.

Guests:

Patrick Woodie, president of the N.C. Rural Center

Martina Edwards, chief of strategic partnerships at Access to Capital for Entrepreneurs

To listen to the full conversation, click the audio player above.