The Savannah Regional Small Business Capital Fund (CAP Fund) has taken a major ownership transition, as the Fund’s remaining two bank shareholders donated their shares to the Small Business Assistance Corporation (SBAC). The CAP Fund, a community development loan fund established in 1994, has been a vital resource for supporting the growth of small businesses in Savannah.

As the CAP Fund’s former majority shareholder, Truist’s donation signifies continued confidence in SBAC’s ability to manage the Fund’s mission and shows its ongoing support for providing essential capital to Savannah’s small businesses

"Our purpose at Truist is to inspire and build better lives and communities," said Truist Savannah Market President Ryan Martin. "We know how important the small business ecosystem is to our communities, and we are proud to support SBAC in its mission to provide access to capital and resources to local entrepreneurs."

Wells Fargo also agreed to participate in the share donation transfer, further supporting its commitment to local entrepreneurs and community development.

"Wells Fargo is dedicated to empowering small businesses in Savannah – they are vital to our community and our local economy,” said Todd Householder, District Branch Network Senior Manager for Wells Fargo in Savannah. “We are pleased to support SBAC and their CAP Fund to help open up more avenues to capital and expertise so that small businesses can grow.”

"We are grateful for Truist and Wells Fargo’s support and trust in SBAC to continue carrying out the mission of the CAP Fund,” said Victoria Saxton, President of SBAC. “This transition speaks volumes to our local banking community support and is extremely significant to SBAC’s future."

Learn more about the CAP Fund here: https://sbacsav.com/capital-fund-transfers/