Cummins Advocating for Racial Equity invests $650,000 to provide Black-owned small businesses in Charleston with resources
Today, Cummins Inc. (NYSE: CMI) announced a partnership with CommunityWorks to fund Charleston Small Business Success Loan Programs. This investment includes capital, technical assistance, and financial coaching for small Black-owned businesses in the Charleston community.
“For over 30 years Cummins has been strengthening its roots in Charleston and continually invests in this community,” said Executive Director, External Diversity Initiatives, Latonya Sisco. “We launched Cummins Advocating for Racial Equity (CARE) as a step to help undo the systemic discrimination against the Black community in the U.S. Creating economic empowerment by building Black wealth and income is one of the four pillars of CARE, and CommunityWorks shares our understanding that when we aid the Black community, we are supporting the larger community, and that’s what we want to do in Charleston.”
CommunityWorks is the ideal partner for Cummins, as they are a statewide non-profit and Community Development Financial Institution (CDFI) committed to building financial equity by providing resources that support small business growth, entrepreneurship, affordable housing and ownership. Additionally, CommunityWorks is building brighter futures for under-resourced families and communities across South Carolina – particularly for people and communities of color.
“CommunityWorks is honored to partner with Cummins to bring our small business lending programs to Black-owned businesses in the Charleston area,” said Tammie Hoy Hawkins, CEO of CommunityWorks. “Our hope is that this program would help more Black-owned businesses receive the capital they need to grow and succeed. A corporate community investment from a company like Cummins helps us better support economic opportunities for all.”
