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CEED receives $75,000 grant from Truist Foundation to provide community members with resources to start, grow and sustain their business

By Staff Report, posted 3 months ago
Photo courtesy of CEED

The Center for Economic Empowerment & Development (CEED) recently received a $75,000 grant from Truist Foundation to be used to assist in providing a level playing field for women and the underserved business owners in our community who disproportionately face barriers. 

The grant will help CEED continue its work in providing comprehensive training and counseling in small business to help clients start, sustain and grow their own businesses, especially those who are socially and economically disadvantaged. 

“We are so excited to have the Truist Foundation as an equity partner! With their investment, CEED will be kicking off entrepreneurial cohorts starting this fall, which will help us to continue to lay the foundation and increase small business owner competency through training,” said Suzy Hrabovsky, Executive Director of CEED, in a press release. “We are looking to expand our financial literacy course offerings throughout the counties we serve, which will increase self-sustaining infrastructures through education. By increasing knowledge and technical assistance, we can increase the sustainability of businesses and their success using loan capital.”

In 2022, CEED served 1,905 clients of which approximately 87 percent were women, 83 percent of their clients were minority and 65 percent had a military affiliation. 

“Education goes hand-in-hand with a business owners’ vision of success and the drive to start and grow a business,” said Chris Isley, Truist Regional President of Eastern North Carolina, in a press release. “We are excited to be part of this program that helps underserved business owners overcome systemic barriers and contribute to their communities in meaningful ways. This work is at the heart of Truist’s purpose of inspiring and building better lives and communities.”

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