Bank makes hundreds of millions in loans available to assist Helene recovery in North Carolina
Truist Financial Corporation has announced that it is making hundreds of millions of dollars in loans available to residents, businesses and local governments affected by Hurricane Helene in North Carolina
CHARLOTTE, N.C. (AP) — Truist Financial Corporation has announced that it is making hundreds of millions of dollars in loans available to residents, businesses and local governments affected by Hurricane Helene in North Carolina.
The Charlotte-based bank said in a news release Wednesday that it will lend more than $650 million and offer more in grants and investments over three years.
Meanwhile, state legislators have approved hundreds of millions of dollars in aid for Helene relief and recovery, while the governor’s office says more is needed. Disaster recovery can take years, as evidenced by ongoing needs from hurricanes that affected the eastern part of the state years ago.
The Truist initiative includes $340 million in lending for small businesses, home mortgages and commercial real estate. It will offer another $310 million in low-cost, tax-exempt loans to municipalities for infrastructure.
