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SBAC receives $100,000 grant to help small businesses

Grant funds to SBAC will help strengthen the local small business community
Savannah, 7/9/2020 – Small Business Assistance Corporation (SBAC) announced it received a $100,000 grant from Truist Financial Corporation to help local small businesses survive and recover from the effects of the COVID-19 pandemic.   The grant is part of the financial services company’s Truist Cares initiative*, a $50 million philanthropic pledge to help rebuild communities affected by the COVID-19 pandemic.   SBAC, a Savannah-based nonprofit that provides loans to small businesses across Georgia and South Carolina, has used the grant to access additional federal funds, providing financial relief to local small businesses struggling during this unprecedented economic crisis.   “The pandemic has severely impacted so many small businesses,” said Tony O’Reilly, president of SBAC. “SBAC is working hard to get these business owners the financial support they need to survive, and this grant is enormously helpful.” Since March 2020, SBAC has provided over 100 recovery loans, using this grant and federal funds.   “We are pleased to support SBAC in their efforts to assist small businesses, many of which have been negatively impacted by COVID-19,” said David Torris, Southern Georgia regional president for Truist. “Our purpose is to inspire and build better lives and communities, and small businesses are certainly an integral part of that.”
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspire and build better lives and communities. With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million households with leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of $506 billion as of March 31, 2020. Truist Bank, Member FDIC. Learn more at Truist.com.   * Truist Cares is a cooperative effort between Truist Financial Corporation, Truist Foundation, Inc., and Truist Charitable Fund to provide communities, organizations and individuals disaster relief and assistance during the COVID-19 crisis.