Funding provided by Truist Foundation’s ‘Where It Starts,’ the grants aim to revitalize commercial corridors in Atlanta, Charlotte, Miami, Memphis and Nashville.
WASHINGTON, D.C. – Aug. 11, 2025 – Living Cities today announces a $500,000 investment to catalyze local entrepreneurial ecosystems in five fast-growing Southeastern cities. The grants, distributed through the Breaking Barriers to Business (B3) program funded by Truist Foundation’s Where It Starts initiative, support locally led solutions to strengthen small businesses and open career pathways across five Southeastern cities: Atlanta, Charlotte, Miami, Memphis and Nashville.
Each city’s local government Business-Serving Agency (BSA) received $100,000 to strengthen commercial corridors, shape inclusive city policies and invest directly in entrepreneurs, reinforcing Truist Foundation and Living Cities’ shared commitment to advancing economic opportunity and income mobility across communities.
“At Truist Foundation, we believe that collaboration is key to removing the barriers that hold entrepreneurs back,” said Lynette Bell, president of Truist Foundation. “Breaking Barriers to Business is more than a program – it’s a bold investment in inclusive economic growth. By expanding access to capital, networks and support, Living Cities and Main Street America are helping more people turn ideas into thriving businesses that fuel stronger communities.”
The B3 program reimagines how municipal BSAs collaborate with community-based Business-Serving Organizations (BSO) to create business ecosystems that revitalize commercial corridors. Through tailored strategies, participating cities are increasing access to capital, amplifying local narratives and strengthening the infrastructure that supports small businesses.
Each participating BSA will:
Participating BSAs include:
“Since the launch of Breaking Barriers to Business, the initiative has exemplified the power of collaborative investment to drive equitable economic opportunity in cities,” said Joe Scantlebury, president and CEO of Living Cities. “This partnership with the Truist Foundation and Main Street America shows what’s possible when philanthropy and financial institutions come together as co-investors in community revitalization across the country.”
Main Street America, a national leader in place-based economic development, will provide technical assistance and implementation support to participating cities. Main Street America directly supports BSOs to build effective community-specific solutions that create resilient economies.
BSOs will support the revitalization of commercial corridors in the following neighborhoods:
“At Main Street America, we have 45 years of evidence on creating and sustaining vibrant commercial corridors, and we know that strong community-based business serving organizations are key to thriving small businesses,” said Erin Barnes, president and CEO of Main Street America. “We are proud to work in this groundbreaking partnership with trusted, innovating partners to ensure small businesses in these cities have the support they need in place to succeed.”
As the Southeast continues to experience economic growth, many communities remain strong areas of opportunity for investment and small business development. Through B3, local governments and community leaders are fueling a path toward inclusive and sustainable economic ecosystems for all.
About Living Cities
Living Cities is a collaborative of leading philanthropic foundations and financial institutions working to advance economic opportunity and income mobility for all people in U.S. cities. By addressing barriers to capital investment, sharing knowledge and mobilizing collective action, Living Cities promotes equitable and inclusive wealth-building in partnership with its members, city leaders and broader network. Learn more at livingcities.org.
About Main Street America
Main Street America (MSA) leads a collaborative movement that advances shared prosperity, creates resilient economies, and improves quality of life through place-based economic development and community preservation in downtowns and neighborhood commercial districts across the country. Over the past 45 years, MSA has spearheaded a transformational movement, working with 2000+ communities to revitalize and re-energize their downtown commercial districts. MSA is incorporated as the National Main Street Center, Inc. and is a subsidiary of the National Trust for Historic Preservation. Learn more at https://mainstreet.org/.
About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. The Foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an equal opportunity to thrive. Embodying these focus areas are the Foundation’s leading initiatives – the Inspire Awards and Where It Starts. Learn more at Truist.com/Foundation.
For media inquiries, contact: press@livingcities.org
