Santander Bank (“Santander”) today announced that it has committed donations of $3.97 million to 137 non-profit organizations that support low- and moderate-income individuals (LMI), families and communities primarily located in its Northeast footprint.
One of the largest areas of focus for this round of funding – the first of two in 2019 – is economic and small business development, with more than $860,000 allocated to 17 organizations that provide valuable technical assistance and education to aspiring entrepreneurs and small business owners. In addition, Santander Bank is in the second year of its three-year, $3 million funding commitment to 13 Community Development Financial Institutions (CDFI), 10 of which are focused on economic and small business development.
“Santander’s charitable grants program is one important way that we help people and businesses prosper,” said Seth Goodall, Santander’s Executive Director of Corporate Social Responsibility. “Not only does this cycle of grants provide funding to key non-profit organizations that help strengthen our communities, but we are particularly pleased to highlight our financial support for small business organizations and initiatives.”
“Small businesses are the lifeblood of our economy, which is why, at Santander, we are committed to supporting entrepreneurs and small business owners,” added Amir Madjilessi, Santander’s Executive Director and Head of Business Banking. “We know small businesses are job creators and strengthen local economies, and we are proud to support so many great community organizations that provide services and support to help them grow.”
The Santander Bank Charitable Contributions Program awards grants to non-profits and programs that improve the quality of life for the residents in the neighborhoods where the Bank’s customers and colleagues live and work. In addition to supporting economic and small business development, grants from this funding cycle also support affordable housing, community services, financial education and neighborhood revitalization.
Some of these grant recipients have been recognized in May as Santander has turned the U.S. Small Business Administration’s ‘National Small Business Week’ into a month-long celebration. In addition to donating to these leading organizations supporting economic and small business development, Santander’s Business Banking team donated their personal time to mentor and provide financial education workshops to small business owners and entrepreneurs.
Economic and Small Business Development grant recipients from around the Bank’s footprint include:
- Network for Teaching Entrepreneurship – $210,000 to support an entrepreneurial training program for LMI middle and high school students throughout the Bank’s footprint, including resources to train classroom teachers in the course methodology
- CommonWealth Kitchen – $105,000 to support LMI small businesses working in the food industry and to sponsor community events focused on awareness and support for small business owners
Other large grants awarded during this funding cycle that support affordable housing, community services, financial education, and neighborhood revitalization include:
- Junior Achievement USA – $350,000 to support financial education activities throughout our region’s area schools for LMI students
- Capital Change Fund – $100,000 a year over three years (a multi-year grant) to support the next four-year cohort of grantees comprised of eight neighborhood anchor institutions whose work will increase economic mobility in NYC’s high-poverty neighborhoods
- Massachusetts Association of Community Development Corporation – $100,000 to support capacity building programs, initiatives to increase the pipeline of community development leaders of color in Boston, and sponsorship of various events that create access and opportunities to diverse neighborhoods and people
- The Center for New York City Neighborhoods – $100,000 to provide general operating support for the events and programs supporting homeowner services, lending and outreach teams working to expand the senior homeownership program, which provides affordable home repair loans and foreclosure prevention services