NewTown Macon has received a $1 million investment from Synovus Bank to support its loan program to advance inclusive economic growth in the communities it serves. The partnership, a testament to the shared values of NewTown and Synovus, will support local entrepreneurs and developers with a focus on those historically underserved.
“The investment from Synovus propels us toward creating a more inclusive and diverse community, with local entrepreneurs and developers leading downtown’s revitalization,” said Lauren Marshall, vice president of community development at NewTown Macon. “This funding will significantly enhance our lending capacity, allowing us to provide financing and training to local businesses.”
As Central Georgia’s first and only community development financial institution (CDFI), NewTown provides critical financial support and training to entrepreneurs and real estate developers, particularly people of color, women, first-time borrowers and young people. NewTown’s expertise, paired with accessible financial products, helps Maconites open new businesses, scale existing concepts, and purchase and develop property.
“Synovus is committed to supporting underserved entrepreneurs and developers to gain access to capital and training to achieve stability and long-term growth,” said David Danzie, vice president and relationship manager at Synovus. “NewTown Macon understands the challenges communities undergoing revitalization face, so partnering with them to expand their existing programs will ensure Macon continues to thrive.”
Entrepreneurs interested in launching a business, expanding an existing business, or renovating a building can find more information at newtownmacon.com/loans.