Small Business Assistance Corporation (SBAC) announced it received a $100,000 grant from Truist Financial Corporation to help local small businesses survive and recover from the effects of the COVID-19 pandemic. 

The grant is part of the financial services company’s Truist Cares initiative*, a $50 million philanthropic pledge to help rebuild communities affected by the COVID-19 pandemic.

SBAC, a Savannah-based nonprofit that provides loans to small businesses across Georgia and South Carolina, has used the grant to access additional federal funds, providing financial relief to local small businesses struggling during this unprecedented economic crisis. 

“The pandemic has severely impacted so many small businesses,” said Tony O'Reilly, president of SBAC. “SBAC is working hard to get these business owners the financial support they need to survive, and this grant is enormously helpful.” Since March 2020, SBAC has provided over 100 recovery loans, using this grant and federal funds.

“We are pleased to support SBAC in their efforts to assist small businesses, many of which have been negatively impacted by COVID-19,” said David Torris, Southern Georgia regional president for Truist. “Our purpose is to inspire and build better lives and communities, and small businesses are certainly an integral part of that.”