Nearly 50 small businesses across the United States have been awarded $5,300 grants through the Fifth Third Small Business Catalyst Fund, aimed at expanding financial access and fostering future growth.
The fund, operating within Fifth Third’s 11-state service area, is designed to support small businesses in their expansion efforts, job creation, and contribution to a more inclusive entrepreneurial environment. These grants mark the first round of funding from the $7.85 million initiative, which Fifth Third introduced last fall in collaboration with the Community Reinvestment Fund, USA (CRF).
“At Fifth Third, our priority is to enhance financial accessibility and economic mobility in the communities we serve,” said Kala Gibson, Chief Corporate Responsibility Officer at Fifth Third. “Through these initial grants, we aim to help local businesses grow and succeed. Small businesses are the backbone of our communities, and their success benefits us all.”
The Small Business Catalyst Fund provides financial resources to small and microbusinesses that may not qualify for traditional lending, connecting them with alternative funding sources through trusted Community Development Financial Institutions (CDFIs). The program employs a hybrid funding approach, combining grants, microloans, and small business loans ranging from $5,000 to $750,000 to support businesses at different stages of development.
"Small businesses play a critical role in the vitality of communities nationwide, yet many struggle to secure the funding needed to grow," said Alexis Dishman, Senior Vice President & Chief Lending Officer at CRF. "Through this partnership with Fifth Third Bank and our CDFI collaborators, we aim to expand financial opportunities and accelerate small business growth with this innovative fund."
Among the grant recipients is The Country Meat Co. Marketplace, a locally owned business in Cincinnati’s Avondale neighborhood. Since opening in February, it has become the community’s first grocery store in 17 years.
"Fifth Third’s assistance will help alleviate financial barriers related to food access for Avondale residents while also promoting nutritional education and essential community support,” said co-owner Tennel Bryant.
The Small Business Catalyst Fund is backed by the Fifth Third Foundation, the Fifth Third Bank Community Development Corporation, and Rockefeller Philanthropy Advisors. CRF oversees grant distribution and business loans, working alongside two regional CDFI microlending partners: Ohio-based Economic & Community Development Institute (ECDI) and New York-based Ascendus.
Fifth Third has a longstanding commitment to financial accessibility and community development through its Neighborhood Program. Launched in 2021, this initiative implements place-based strategies to drive economic growth in historically underserved neighborhoods within the bank’s 11-state footprint. By collaborating with local organizations, the program seeks to create sustainable solutions and lasting positive change through financial and social investment.
Click here to see the complete list of grant recipients.
The fund, operating within Fifth Third’s 11-state service area, is designed to support small businesses in their expansion efforts, job creation, and contribution to a more inclusive entrepreneurial environment. These grants mark the first round of funding from the $7.85 million initiative, which Fifth Third introduced last fall in collaboration with the Community Reinvestment Fund, USA (CRF).
“At Fifth Third, our priority is to enhance financial accessibility and economic mobility in the communities we serve,” said Kala Gibson, Chief Corporate Responsibility Officer at Fifth Third. “Through these initial grants, we aim to help local businesses grow and succeed. Small businesses are the backbone of our communities, and their success benefits us all.”
The Small Business Catalyst Fund provides financial resources to small and microbusinesses that may not qualify for traditional lending, connecting them with alternative funding sources through trusted Community Development Financial Institutions (CDFIs). The program employs a hybrid funding approach, combining grants, microloans, and small business loans ranging from $5,000 to $750,000 to support businesses at different stages of development.
"Small businesses play a critical role in the vitality of communities nationwide, yet many struggle to secure the funding needed to grow," said Alexis Dishman, Senior Vice President & Chief Lending Officer at CRF. "Through this partnership with Fifth Third Bank and our CDFI collaborators, we aim to expand financial opportunities and accelerate small business growth with this innovative fund."
Among the grant recipients is The Country Meat Co. Marketplace, a locally owned business in Cincinnati’s Avondale neighborhood. Since opening in February, it has become the community’s first grocery store in 17 years.
"Fifth Third’s assistance will help alleviate financial barriers related to food access for Avondale residents while also promoting nutritional education and essential community support,” said co-owner Tennel Bryant.
The Small Business Catalyst Fund is backed by the Fifth Third Foundation, the Fifth Third Bank Community Development Corporation, and Rockefeller Philanthropy Advisors. CRF oversees grant distribution and business loans, working alongside two regional CDFI microlending partners: Ohio-based Economic & Community Development Institute (ECDI) and New York-based Ascendus.
Fifth Third has a longstanding commitment to financial accessibility and community development through its Neighborhood Program. Launched in 2021, this initiative implements place-based strategies to drive economic growth in historically underserved neighborhoods within the bank’s 11-state footprint. By collaborating with local organizations, the program seeks to create sustainable solutions and lasting positive change through financial and social investment.
Click here to see the complete list of grant recipients.