Urban Strategies Receives $1.5 Million Grant from Truist to Expand Small Business Loan Fund
Urban Strategies, Inc. (USI) has received a $1.5 million grant from the Truist Foundation to expand its Community Development Financial Institution (CDFI). The funding will support small business loan programs and provide entrepreneurs in Memphis, Fort Worth, Houston, Jacksonville, and Philadelphia with access to capital, technical assistance, credit-building tools, and resources for growth. This new investment builds on a $1.5 million grant awarded by Truist Foundation in 2023 that supported similar initiatives in Norfolk, Baltimore, and Fort Myers. USI's CDFI has raised nearly $12 million since its launch in 2018 to support affordable housing development and economic growth across the U.S., creating over 3,800 jobs and preserving more than 2,300 units of housing. The grant aims not only to expand access to capital but also to address systemic barriers that prevent entrepreneurs from building wealth. USI emphasizes a people-centered approach where communities are positioned as active participants in economic development rather than passive beneficiaries.
Topics: CDFI community development entrepreneurship small business loans