Genesis for Good Foundation Awarded a Grant to Empower Small Businesses and Historically Marginalized Entrepreneurs
Genesis for Good Foundation (GFG) has been awarded a $100,000 grant from the Federal Home Loan Bank of San Francisco's AHEAD Program, in partnership with Citizens Business Bank. The grant will support GFG's Catalyst Empowerment Grant Program, which provides up to $10,000 to eligible small businesses in Southern California's low to moderate-income communities. The program focuses on supporting historically marginalized and underinvested entrepreneurs by providing essential resources, capacity building, networking opportunities, education, and capital. Genesis Bank, as one of only five diverse, multiracial Minority Depository Institutions among approximately 4,600 U.S. banks, collaborated with Citizens Business Bank to secure this competitive grant.
La Genesis for Good Foundation (GFG) ha ricevuto un finanziamento di $100.000 dal programma AHEAD della Federal Home Loan Bank di San Francisco, in collaborazione con il Citizens Business Bank. Questo finanziamento sosterrà il programma Catalyst Empowerment Grant di GFG, che offre fino a $10.000 alle piccole imprese idonee nelle comunità a basso e medio reddito del sud della California. Il programma si concentra sul supporto a imprenditori storicamente emarginati e sottoinvestiti, fornendo risorse fondamentali, sviluppo delle capacità, opportunità di networking, formazione e capitale. Genesis Bank, essendo una delle sole cinque istituzioni di deposito minoritarie multirazziali tra circa 4.600 banche statunitensi, ha collaborato con il Citizens Business Bank per ottenere questo finanziamento competitivo.
La Fundación Genesis for Good (GFG) ha recibido una subvención de $100,000 del Programa AHEAD del Federal Home Loan Bank de San Francisco, en asociación con Citizens Business Bank. La subvención apoyará el Programa de Subvenciones para el Empoderamiento Catalyst de GFG, que proporciona hasta $10,000 a pequeñas empresas elegibles en las comunidades de bajos a moderados ingresos del sur de California. El programa se centra en apoyar a emprendedores históricamente marginados y subinvertidos, ofreciendo recursos esenciales, desarrollo de capacidades, oportunidades de networking, educación y capital. Genesis Bank, como una de las cinco únicas instituciones de depósito minoritarias multirraciales entre aproximadamente 4,600 bancos en EE. UU., colaboró con Citizens Business Bank para asegurar esta subvención competitiva.
제네시스 포 굿 재단 (GFG)은 시민 비즈니스 뱅크와 협력하여 샌프란시스코 연방 주택 대출 은행의 AHEAD 프로그램으로부터 $100,000의 보조금을 받았습니다. 이 보조금은 GFG의 카탈리스트 임파워먼트 보조금 프로그램을 지원하며, 이는 남부 캘리포니아의 저소득 및 중간소득 지역 사회의 자격 있는 소기업에 최대 $10,000를 제공합니다. 이 프로그램은 역사적으로 소외되고 투자가 부족한 기업가들을 지원하는 데 중점을 두며, 필수 자원, 역량 구축, 네트워킹 기회, 교육 및 자본을 제공합니다. 제네시스 뱅크는 약 4,600개의 미국 은행 중 다섯 개의 다양하고 다인종적인 소수 민족 예금 기관 중 하나로, 이 경쟁 보조금을 확보하기 위해 시민 비즈니스 뱅크와 협력했습니다.
La Genesis for Good Foundation (GFG) a reçu une subvention de 100 000 $ du programme AHEAD de la Federal Home Loan Bank de San Francisco, en partenariat avec le Citizens Business Bank. Cette subvention soutiendra le programme de subventions Catalyst Empowerment de GFG, qui offre jusqu'à 10 000 $ aux petites entreprises éligibles dans les communautés à revenu faible à modéré du sud de la Californie. Le programme se concentre sur le soutien aux entrepreneurs historiquement marginalisés et sous-investis en fournissant des ressources essentielles, du développement des capacités, des opportunités de réseautage, de l'éducation et du capital. La Genesis Bank, en tant qu'une des cinq seules institutions de dépôt minoritaires multiculturelles parmi environ 4 600 banques américaines, a collaboré avec le Citizens Business Bank pour obtenir cette subvention compétitive.
Die Genesis for Good Foundation (GFG) hat eine Förderung in Höhe von 100.000 Dollar vom AHEAD-Programm der Federal Home Loan Bank von San Francisco in Partnerschaft mit der Citizens Business Bank erhalten. Die Förderung unterstützt das Catalyst Empowerment Grant-Programm von GFG, das bis zu 10.000 Dollar an berechtigte Kleinunternehmen in einkommensschwachen bis moderaten Gemeinschaften im Süden Kaliforniens bereitstellt. Das Programm konzentriert sich darauf, historisch benachteiligte und unterinvestierte Unternehmer zu unterstützen, indem es essentielle Ressourcen, Kapazitätsaufbau, Networking-Möglichkeiten, Bildung und Kapital bereitstellt. Die Genesis Bank, eine von nur fünf vielfältigen, multikulturellen Minderheiten-Depotinstitutionen von etwa 4.600 US-Banken, hat mit der Citizens Business Bank zusammengearbeitet, um diese wettbewerbsfähige Förderung zu sichern.
- Secured $100,000 grant funding for small business support program
- Partnership with established financial institutions (FHLBank San Francisco, Citizens Business Bank, Fiserv)
- Program offers grants up to $10,000 to eligible small businesses
- None.
Insights
The
The partnership does offer strategic benefits through enhanced Community Reinvestment Act (CRA) compliance and potential business development opportunities in underserved markets. However, the immediate financial impact on CVBF's bottom line or stock performance is negligible. The initiative aligns with broader industry trends toward ESG and community development but isn't likely to materially affect investor returns.
Citizens Business Bank Partners with Federal Home Loan Bank of
Working in concert with Genesis Bank and the Genesis Bank Institute for Entrepreneurship, and in partnership with Fiserv, Inc., the Genesis for Good Foundation Catalyst Empowerment Grant Program represents a shared commitment to empowering historically marginalized and underinvested entrepreneurs and diverse business communities. This innovative program serves to support small business owners and diverse entrepreneurs located in low- to moderate-income communities across
Genesis for Good collaborated with Citizens Business Bank to receive the grant from FHLBank San Francisco through a competitive application process. The AHEAD Program enables FHLBank San Francisco members like Citizens Business Bank to give a critical boost to local programs and projects that target pressing community needs and bring greater opportunity to underserved populations.
Stephen H. Gordon, Chairman and Chief Executive Officer of Genesis Bank and Chairman of the Genesis for Good Foundation, stated, “On behalf of Genesis Bank, the Genesis Bank Institute for Entrepreneurship, and the Genesis for Good Foundation, we are honored to receive this grant from the FHLBank San Francisco AHEAD Program. We are also deeply thankful to Citizens Business Bank for sponsoring the Genesis for Good Foundation in support of our application for the AHEAD grant. As one of only five diverse, multiracial Minority Depository Institutions (“MDI”) out of approximately 4,600 banks in the
Amil Aaron, President and Executive Director of the Genesis for Good Foundation, and Senior Vice President, Head of Community Impact of Genesis Bank, stated, “We are grateful to have received contributions from Fiserv, Citizens Business Bank, and now FHLBank San Francisco for the Catalyst Empowerment Grant Program. Our mission is to support growth and job creation for diverse small businesses and entrepreneurs, many of which have been historically marginalized and underinvested. We are excited to continue collaborating with more mission-aligned partners in order to foster broader support, expertise, and resources to build upon our programming, outreach, and overall community impact.”
“This grant for the Genesis for Good Foundation delivered in partnership with our member Citizens Business Bank can create life-changing economic opportunity for minority- and women-owned small businesses and entrepreneurs in Southern California,” said Eric Cicourel, community investment officer for FHLBank San Francisco. “We’re proud that for 20 years and counting, the AHEAD Program continues to make a positive impact throughout the communities we serve.”
Jess Tirado, Vice President and Community Development Officer of Citizens Business Bank, stated, “We are grateful to the FHLBank San Francisco and its AHEAD Program, which ensures that people living in lower-income communities have the infrastructure and resources they need to fully participate in a changing economy. We look forward to collaborating with Genesis Bank and the Genesis for Good Foundation on their empowerment program that will support small business owners and diverse entrepreneurs throughout Southern California.”
Small businesses interested in learning more about the GFG Catalyst Empowerment Grant Program can visit https://genesisforgood.org/catalystgrant. Additionally, organizations interested in partnering with GFG to support the GFG Catalyst Empowerment Grant Program can reach us using the contact information below.
About the Federal Home Loan Bank of
The Federal Home Loan Bank of
About CVB Financial Corp.
CVB Financial Corp. (NASDAQ: CVBF), is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World’s Most Admired Companies™ for nine of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.
About Genesis For Good Foundation
The Genesis for Good Foundation (GFG) is a public 501(c)3 philanthropic organization committed to building thriving, inclusive, and vibrant communities by mobilizing private and public resources to advance opportunity and drive positive community impact. GFG collaborates with purposeful partners to take collective action and empower organizations that support underestimated minority-owned businesses and diverse communities. GFG supports organizations and initiatives that serve diverse and predominately low- to moderate-income (LMI) communities in
About Genesis Bank
Genesis Bank is a
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For more information, please contact:
Amilcar Aaron
President and Executive Director of Genesis for Good Foundation
Senior Vice President, Head of Community Impact of Genesis Bank
E-mail: aaaron@genesisforgood.org
Phone: 949-273-1534
Will Han
Executive Vice President, Chief Financial Officer of Genesis Bank
E-mail: whan@mygenesisbank.com
Phone: 949-273-1226
Source: Genesis Bank
FAQ
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