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October 23, 2020
Banner Bank president and CEO Mark Grescovich announced the creation of the Banner Bank Small Business Opportunity Fund to help address social and racial injustice by helping minority-owned small businesses affected by COVID-19. Launched with an initial $1.5 million investment, the fund will assist underserved businesses with annual revenues of $1 million or less that are owned by Black, Indigenous and people of color, as well as businesses located in economically disadvantaged rural and urban communities. Banner is partnering with three community development financial institutions by making a $500,000 investment each in Rural Community Assistance, Craft3 and Lendistry. These groups will identify and administer financial assistance in the form of low-cost loans, grants and credit enhancements, generally up to $10,000, to each qualifying business.