Truist Financial Corp. said Wednesday it has provided a $40 million “initial donation” to help create CornerSquare Community Capital. It is the largest investment in this sector from Truist, as well as legacy BB&T Corp. and SunTrust Banks Inc.
CornerSquare is designed to be a national nonprofit fund that will support selected community-development financial institutions. It will do that foremost by purchasing 25% of loans made by the financial institutions to historically underserved entrepreneurs. Read more.