Leaders will focus on post-pandemic recovery for entrepreneurs of color

Fifth Third Bank and Accion Opportunity Fund (AOF), one of the nation's leading nonprofit organizations providing small business owners with access to capital, networks, and coaching, will host a fireside chat on Oct. 27 on the state of small business – specifically for entrepreneurs of color – and actions that can be taken to help ensure a successful recovery after the pandemic.

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Kala Gibson, Head of Business Banking and Chief Corporate Responsibility Officer, Fifth Third Bank (Photo: Business Wire)

Fifth Third’s head of business banking and chief enterprise corporate responsibility officer, Kala Gibson, and AOF’s chief executive officer, Luz Urrutia, will highlight resources available. AOF client Reign Free of Red Door Catering will moderate the conversation.

“Collaborating with organizations like Accion Opportunity Fund has helped us provide entrepreneurs of color vital resources as they have navigated running a small business during a pandemic,” said Gibson. “Small businesses are crucial to local economies and communities, and championing entrepreneurship is core to Fifth Third Bank. Over the past year, we have discovered solutions for these entrepreneurs not only to stay afloat, but to succeed, in a turbulent business environment.”

Fifth Third and AOF have worked together for several years to support small business owners by expanding access to capital along with coaching and educational resources to help them thrive, including a series of educational webinars on targeted business topics that reached thousands of small business owners.

“Entrepreneurs of color have been disproportionately affected by the pandemic,” said Urrutia. “However, many businesses have stepped up – including Fifth Third Bank – and developed programs and partnerships to help these most vulnerable businesses. While we still have a way to go, we can reflect on the progress made and what we have learned about supporting small businesses through the pandemic, especially how businesses are innovating and reinventing themselves to get through the crisis.”

Fifth Third’s partnership with AOF was initiated as part of the Bank’s five-year Community Commitment that began in 2016 and delivered $41.6 billion in lending and investments. This included small business lending, product innovation and enhanced underwriting and fulfillment.

Meeting, registration details

The meeting will be held through Zoom at noon EST, Oct. 27. Those interested in attending can register here: https://accion.zoom.us/webinar/register/6116316306752/WN_tSS_t4XnSSqQ3y8t0Ouzwg.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of June 30, 2021, the Company had $205 billion in assets and operates 1,096 full-service Banking Centers, and 2,369 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2021, had $483 billion in assets under care, of which it managed $61 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and news releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ^® Global Select Market under the symbol “FITB.”

About Accion Opportunity Fund

Accion Opportunity Fund works to create an inclusive, healthy financial system that supports the nation’s small business owners by connecting entrepreneurs to affordable capital, educational resources, coaching and networks. Through innovative partnerships and outreach strategies, Accion reaches entrepreneurs of color, low-income entrepreneurs and women, who often lack access to the financial services they need to create and build their businesses. For more information, visit www.aofund.org.

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