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First Citizens Bank has awarded $250,000 to a group that provides loans for local businesses.
The bank announced last month that it was allocating funding to the Catawba Regional Development Corp.'s Community Development Financial Institutions Program.
The CRDC helps meet the financial needs of businesses in Lancaster, York, Chester and Union counties through various types of loans. This is the fourth time First Citizens has provided funding to support the CRDC's initiative.
"First Citizens is a strong partner and we look forward to expanding our relationship with the bank," said Randy Imler, director of the Catawba Regional Development Corp.
"First Citizens is a leader in the market and the community-lending approach works well with our loan programs."
The CRDC, founded in 1982, has provided more than $36 million in loans to local businesses. Loan programs include the SBA 504 revolving loan fund and the intermediary relending program. Those loans have leveraged more than $100 million of private capital and have helped create more than 1,900 local jobs.
CRDC is an affiliate of the Catawba Regional Council of Governments.
"CRDC has an impressive track record of fostering economic growth and development in the region and First Citizens Bank is proud to assist in these endeavors," said Tony Pope, senior vice president of First Citizens Bank and president of CRDC.
Contact reporter Jesef Williams at firstname.lastname@example.org or at (803) 283-1152