Truist Awards Urban Strategies $1.5M to Boost Small Business Lending
Urban Strategies, Inc. receives a $1.5 million Truist grant to expand its CDFI loan fund and support entrepreneurs across five new cities.
Urban Strategies, Inc. (USI) has secured a $1.5 million grant from Truist to strengthen community wealth building efforts and broaden access to capital for emerging small business owners, the Memphis-based nonprofit announced October 6, 2026.
The funding is directed toward expanding USI's Community Development Financial Institution (CDFI) small business loan fund, a vehicle designed to reach entrepreneurs who are often underserved by conventional lenders. Alongside financing, the initiative will deliver technical assistance and create clearer pathways to business ownership.
Read more Prophix Partners With PwC Belgium to Modernize Finance Functions →
The grant will allow USI to extend its programming into five additional cities, widening the geographic footprint of its lending and advisory services. The expansion reflects a broader trend among CDFIs leveraging philanthropic capital to fill financing gaps left by traditional banking institutions in lower-income and minority communities.
Truist's investment underscores growing corporate interest in directing grant dollars toward mission-driven lenders capable of deploying funds quickly to small businesses that lack collateral or credit history required by mainstream financial institutions. USI's model combines loan capital with hands-on business development support, positioning it as both a lender and a capacity-building partner for entrepreneurs.
Continue reading at Real Estate.
