Fifth Third Bank Grants $25,000 to Support Small Businesses

Support Initiatives from Fifth Third Bank

Recently, Fifth Third Bank (NASDAQ: FITB) showcased its commitment to small businesses through an exciting social media competition and tipping campaign. Throughout November, employees across its expansive footprint celebrated local small businesses, creating a unique opportunity to win one of five $5,300 grants. This initiative not only recognizes the hard work of small businesses but also emphasizes community spirit during the holiday season.

Engaging Employees and the Community

Fifth Third's enthusiastic employees participated actively in this campaign, generating buzz on social media. By utilizing the hashtag #Love53, they brought to light over 2,800 local small businesses vying for recognition. The overwhelming participation highlighted the positive impact that social responsibility can have within communities.

Exciting Grant Winners

Among the numerous entries, five small businesses were randomly selected to benefit from the $5,300 grants, helping them enhance their operations and contribute further to the economy. The winners included:

• Kim's Kakes
• Salon Impressions
• Magic Stitches
• The Corner Pizza Bar
• The Empanada’s Box

The announcement of these winners brought joy and surprise to many. For example, Diego Nunez, owner of The Empanada's Box, expressed his excitement, noting that the grant would aid in their marketing initiatives to support multiple locations. This example illustrates the direct benefits that such financial support can bring to local business owners.

Acts of Kindness Throughout the Campaign

In addition to the competitive aspect of the grant offerings, Fifth Third employees also engaged in a generous tipping campaign. Over the course of the week leading up to Small Business Saturday, employees gifted more than $53,000 in $53 tips to their favorite local small businesses. This campaign reflects Fifth Third’s dedication not only to supporting small businesses through financial means but also spreading goodwill within the community.

The Power of Small Businesses

Fifth Third’s chief marketing officer, Melissa Stevens, shared insights on the importance of supporting small, local businesses. She stated, "At Fifth Third, we know that small, local businesses form the foundation of our communities. When they succeed, we succeed." This sentiment captures the essence of community connection forged through supporting local enterprises.

Fifth Third Bank also operates under a continuously evolving plan to support small businesses. Their outreach extends beyond grants, as they are proud to serve over 320,000 small business clients nationwide. This includes extensive offerings in lending, investment, and technical assistance, forming a robust framework aimed at community and economic development.

Innovative Community Programs

Furthermore, Fifth Third fosters growth within small businesses by implementing impactful initiatives such as its Neighborhood Investment Program. This program focuses on creating innovative strategies tailored to foster positive changes in historically disinvested neighborhoods. Additionally, the bank launched the Small Business Catalyst Fund recently, designed to encourage entrepreneurial efforts. Both programs highlight Fifth Third’s commitment to nurturing and empowering local businesses.

About Fifth Third Bank

Fifth Third Bank has a long-standing history of innovation and community involvement, having served individuals, families, and businesses since 1858. Known for its extensive list of financial services, the bank continues to prioritize ethical standards, having received recognition as one of the World’s Most Ethical Companies. With a mission to be both a high-performing regional bank and a trusted partner, Fifth Third strives to make a lasting impact in the communities it serves.

Fifth Third Bank operates as a federally chartered institution with its parent company, Fifth Third Bancorp, trading on the NASDAQ under the symbol FITB. The commitment to customer and community care is at the core of their operations, reflecting the philosophy that banking should improve lives.

Frequently Asked Questions

What is the purpose of the Fifth Third Bank grant program?

The grant program aims to support local small businesses by providing financial assistance to help them grow and thrive in their communities.

How were the recipients of the grants selected?

Five small businesses were chosen randomly from over 2,800 entries submitted by Fifth Third employees who nominated their favorite local businesses.

How much total funding was distributed in this initiative?

Fifth Third Bank distributed a total of $25,000, with five small businesses each receiving $5,300 to help support their operations.

What additional support does Fifth Third provide to small businesses?

In addition to grants, Fifth Third offers extensive services in lending, investments, and technical assistance to empower small businesses.

What impact does Fifth Third aim to achieve with its community programs?

Fifth Third aims to foster economic development, create positive change in disinvested neighborhoods, support business growth and strengthen community ties.

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