Fifth Third Bank, in partnership with Community Reinvestment Fund, USA, has introduced the Small Business Catalyst Fund, a $7.85 million initiative designed to fund small businesses, across Fifth Third’s 11-state region.
The fund will connect small business owners with capital options through Community Development Financial Institutions and includes grants, microloans and small business loans, ranging from $5,000 to $750,000.
The fund is backed by the Fifth Third Foundation, the Fifth Third Bank Community Development Corp. and Rockefeller Philanthropy Advisors. It is administered by CRF.
Since 2021, Fifth Third’s neighborhood program has delivered more than $13.5 million in small business loans across its communities.