Truist Financial announced a new initiative, Truist Cares for Western North Carolina, a three-year, $725 million commitment to support critical small business, housing and infrastructure efforts in Western North Carolina as communities impacted by Hurricane Helene recover and rebuild.

The commitment will include new, dedicated capital for local small businesses, residents and municipalities, impact capital from Truist Community Capital, philanthropic giving from Truist Foundation and additional on-the-ground humanitarian support from Truist teammates to help establish long-term resiliency in this devastated region. To optimize this new initiative, Truist will work closely with community partners, including key civic and business stakeholders, and disaster response organizations, to help assess specific needs in the region and tailor programs in direct response to community feedback. These program resources are expected to be available beginning in December 2024.

"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," said Truist Chairman and CEO Bill Rogers. "Our purpose is to inspire and build better lives and communities. Through this new initiative, Truist will address areas of critical need in Western North Carolina, including a focus on small businesses as well as housing and infrastructure projects. By listening to the needs of the community and leveraging our expertise, capital and partnerships, we believe we can make a meaningful difference."

Truist Cares for Western North Carolina will include the following dedicated support over three years:

• $650 million in new, dedicated capital to support rebuilding and resiliency, including:
• $340 million in dedicated lending for qualified small businesses, residential mortgages, and commercial real estate
• $310 million in low-cost, tax-exempt municipal lending for infrastructure projects
• $50 million in loans and/or investments in Community Development Financial Institutions (CDFIs) by Truist Community Capital
• $25 million in philanthropic grants to local and national nonprofit organizations from Truist Foundation through trusted disaster response partners
• Rallying Truist teammates to serve the community with a challenge to volunteer 10,000 hours

The regional need for small business, housing and infrastructure support over the long term is clear. Small businesses contribute immensely to the economic backbone and social vibrancy of Western North Carolina and are particularly financially vulnerable in the recovery period of a natural disaster. Additionally, Hurricane Helene caused billions of dollars in home and property damage, while also devastating critical infrastructure including roads, bridges and water systems.

To express interest in participating in the Truist Cares for Western North Carolina initiative, nonprofits, local small businesses, government offices and consumers can call 844-4TRUIST, contact their relationship manager or visit their local Truist branch. More information can be found at Truist.com/truistcares.