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Taking action to provide essential resources and support for our communities, clients and teammates
During this health and humanitarian crisis, our commitment to help strengthen our communities is unwavering. We’re partnering with local leaders and organizations that are addressing critical needs, making an impact in communities of color, and helping local small businesses. And in a year unlike any other, we are doing more to significantly invest in health, safety, benefits and other resources to support our employees who work tirelessly in support of each other, our clients, and the communities where we work and live.
Throughout our communities, we see families, neighbors, businesses and teammates working together more than ever. To help, we’ve added $100 million to our ongoing support to organizations addressing critical needs. The funds will help increase medical response capacity, focus on vulnerable populations and help address food insecurity.
Supporting small businesses
More than 99% of the businesses in the United States employ fewer than 500 people, and historically, these small firms have created two-thirds of America’s net new jobs.
As of May 15th, we’ve provided more than $25 billion in support by funding small business client loans through the Paycheck Protection Program. We’re also providing up to $250 million in capital to Community Development Financial Institution (CDFI) loan funds and CDFI- and minority-owned banks to extend assistance to more small businesses.