Truist Foundation Launches $725M Recovery Initiative

Truist Financial Corporation has announced a significant $725 million commitment to assist Western North Carolina in recovering from the devastation caused by Hurricane Helene, which affected over 250,000 homes across 39 counties. The initiative, known as Truist Cares for Western North Carolina, will span three years and provide funds for small business loans, housing, and infrastructure projects to build long-term resilience. As part of this commitment, the Truist Foundation, in partnership with the Center for Disaster Philanthropy, will distribute over $20 million in disaster recovery grants aimed at supporting critical housing and business recovery. These efforts will be guided by assessments of the region's damages and unmet needs, with nonprofit organizations invited to apply for funding. Truist's multifaceted approach also includes philanthropic contributions and dedicated loan capital to further aid recovery. The initiative underscores Truist's long-standing commitment to the communities it serves, particularly in times of crisis.