Atlantic Union Bank is launching a Small Business Partnership Grant initiative, a multi-year investment to support small businesses, drive job creation and strengthen local economies across the Mid-Atlantic.

The $2.5 million commitment is part of the bank’s broader five-year community impact plan and will support four community development financial institutions serving Virginia, Maryland, Washington, D.C., and North Carolina, a release stated.

“Small businesses are at the heart of our communities,” said Nathalia Artus, Head of Community Impact at Atlantic Union Bank. “This partnership is about making sure more entrepreneurs have access to the capital and support they need, by working with organizations that know their communities best.”

The funding will support small businesses through expanded access to capital and technical assistance. This includes efforts to increase access to credit for qualified small businesses that may not meet traditional bank lending criteria, along with business planning, financial education, credit and debt management, risk assessment and other tools designed to help entrepreneurs succeed.