CHARLOTTE, N.C. — On Monday, the Truist Foundation announced a $22 million initiative aimed at breaking down barriers for minority-owned businesses.
This collaborative project will start in Charlotte but the impact will spread to cities like Atlanta, Memphis, and Miami to create resiliency in corridors and communities that have been forgotten.
The 'Where It Starts' program is looking to create solutions tailored to certain businesses' specific needs.
Lynette Bell, President of the Truist Foundation, explained the money will be awarded to three groups. The Council for Adult and Experiential Learning (CAEL), Living Cities, and Main Street America all work in certain segments of the population and businesses to weed out inequity in finances and create pathways in industries or professions that continue to be underrepresented.
"How do we help those people upscale or rescale for that job and industry," Bell said.
The commitment is a six-year investment that will also branch out to other metropolitan cities.
Loyce Shelley and Joyce Brandon, twin sisters, built their business in Memphis 14 years ago. They recall barriers that now would be removed with this initiative, giving them the opportunity and access to generational wealth.
"It has the opportunity of making generational change for lives to come and the reach is far beyond just Charlotte or Memphis," Shelley said.
Contact Colin Mayfield at cmayfield@wcnc.com or follow him on Facebook, Twitter and Instagram.