Bank of America lent a helping hand to a local Albany group Wednesday morning.
Bank of America gave a $4,000 grant to Albany Community Together, a group that provides resources to local entrepreneurs and small business owners.
Albany Community Together Inc, a community development financial institution certified by the department of Treasury, has been approved to participate under the Georgia Funding for CDFI's program funded by the Department of Treasury according to the release from Bank of America.
Bank of America awarded Albany Community Together, Inc. a $4,000 grant through its Bank of America Foundation. Albany Community Together Inc, a community development financial institution certified by the department of Treasury, has been approved to participate under the Georgia Funding for CDFI's program funded by the Department of Treasury. Georgia was awarded $48 million in funding for small business lending as allocated by the Federal Small Business Jobs Act of 2010. Under this ACT, CDFIs are encouraged to work with small businesses and the banking community to provide funding to assist in growth and job creation.
The grant from Bank of America will assist Albany Community Together in fulfilling that requirement said President CEO of Albany Community Together Thelma Johnson in the release. Kathy Turner, Vice President for Bank of America, stated that Bank of America is excited to be a part of the community and we are committed to creating meaningful change in the communities we serve through our philanthropic efforts.
Albany Community Together, Inc., President/CEO, Thelma Adams Johnson said, this grant will allows to be able to continue to give us the opportunity to spotlight our area and to show the community what resources are available for those wishing to start and/or expand a business in the Albany area.
Entrepreneurship is very important and vital to the success of our local and regional economy. Our economic development strategy needs to be one that focuses on "homegrown", growing entrepreneurs, providing them with the resources, tools, and the finances they need to be successful in Southwest Georgia. This is just the seed, we intend to cultivate, fertilize, and help harvest the seeds of entrepreneurship."