The bank’s initiative is expected to last three years, according to the company’s announcement.
CHARLOTTE, N.C. — Truist Financial Corporation announced on Wednesday a $725 million commitment to help western North Carolina recover from Helene.
“Truist Cares for Western North Carolina aims over three years to support small businesses, housing, and infrastructure in the region affected by Helene, according to the company. This initiative seeks to bolster recovery and build long-term resiliency in the devastated communities.
The comprehensive commitment includes $650 million in new capital for rebuilding efforts, with $340 million allocated for small business loans, residential mortgages, and commercial real estate, and $310 million for low-cost, tax-exempt municipal lending for infrastructure projects, according to the company’s announcement. Additionally, Truist Community Capital will provide $50 million in loans and investments to Community Development Financial Institutions (CDFIs), and the Truist Foundation will contribute $25 million in philanthropic grants to local and national nonprofits through trusted disaster response partners.
“Western North Carolina, a community Truist has proudly served for decades, has begun the journey to recovery, and today, we are sharing the depth of Truist’s long-term commitment to supporting those efforts.” Truist Chairman and CEO Bill Rogers said in a released statement.
The company has more information available by calling 844-4TRUIST or visiting Truist.com/truistcares.
