The infusion of capital targets Memphis, Fort Worth, Houston, Jacksonville, and Philadelphia, building on a similar 2023 investment that supported growth in Norfolk, Baltimore, and Fort Myers. This funding allows the USI Community Development Financial Institution (CDFI) to scale its loan infrastructure and provide essential credit-building tools alongside mentorship for emerging enterprises.
Urban Strategies Secures $1.5 Million Grant to Expand Small Business Aid
A $1.5 million grant from the Truist Foundation will bolster Urban Strategies, Inc.’s community development loan fund, extending capital and technical support to entrepreneurs in five new cities. The initiative aims to shift local economic landscapes by removing barriers for business owners traditionally excluded from conventional financing.
Donovan Duncan, executive vice president and COO of Urban Strategies, emphasized that the program seeks to foster genuine ownership rather than simple economic participation. By integrating flexible financing with business coaching, the organization intends to position entrepreneurs as primary drivers of neighborhood revitalization. Since 2018, the USI CDFI has deployed nearly $12 million in financing, contributing to the creation of over 3,800 jobs and the preservation of more than 2,300 housing units nationwide.
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