CIBC champions small business growth and accessible housing with generous grants

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Sep 19, 2023, 08:00 ET

CHICAGO, Sept. 19, 2023 /PRNewswire/ - CIBC announced it has awarded $450,000 in grants to help address two of the most pressing needs impacting various US communities States — affordable housing and access to capital for small businesses.

Affordable housing

With a focus on improving access to affordable home ownership opportunities, CIBC recently awarded $200,000 to its affordable housing partners in Chicago, Detroit, Milwaukee and St. Louis. Through CIBC's Housing Initiative, the bank offers a wide range of financial housing products and services, including a variety of mortgage loan products, closing cost and down payment assistance, and a team of knowledgeable professionals who focus on home buying solutions.

"CIBC is dedicated to addressing the critical need for affordable housing in our communities," said Roberto Interiano, Community Lending Sales Manager at CIBC Bank USA. "Through our contributions, strong partnerships and comprehensive and affordable housing strategies, we strive to make a positive impact and improve the lives of individuals and families in need while promoting economic stability and social equity."

Small business

CIBC also awarded $250,000 to its entrepreneurship training partners across six major US cities.

CIBC works with a variety of organizations to offer Entrepreneur Training Programs (ETP). Qualified ETP graduates are eligible for the CIBC Entrepreneur Loan Program, which provides affordable financing to start-up and early-stage small businesses in Chicago, Detroit, Milwaukee, Palm Beach, San Francisco and St. Louis.

"Our partnership with the organizations who support our entrepreneurial training programs is a testament to our commitment to foster economic growth and inspire ambitious entrepreneurs," said Cheryl Wilson, Head of Community Development Lending at CIBC Bank USA. "Through our grants and ongoing support, we aim to create thriving entrepreneurial communities across the markets we serve."

About CIBC

CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

Member FDIC and Equal Housing Lender. Loans are subject to credit approval. The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed.

SOURCE CIBC