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By Vikram Pandit, CEO May 06, 2010 11:38 AM
Today, Citi is making a major investment in the U.S. economy by launching the $200 million Communities at Work Fund (CWF) -- the largest fund in the nation dedicated to offering financing to small businesses and community service providers in low-income communities.
The Fund, and our investment in it, are a true reflection of our strong commitment to the communities we serve, and to providing them credit that creates jobs and opportunity.
By Raj Seshadri, Head of Small Business Banking May 06, 2010 09:20 AM
Small businesses face big challenges -- in both good economic times and bad. Yet a new Citibank survey suggests that America's entrepreneurs are undaunted by the recession and positive about their future prospects -- despite current difficulties and the lasting effects of the economic downturn.
The encouraging data was announced this week as we released the results of a survey of more than 550 U.S. small businesses, each with annual revenues exceeding $100,000 and fewer than 100 employees. The survey results show that even in the face of lasting effects from the recent downturn, small business owners -- especially those under 45 -- are optimistic.
By Citi April 27, 2010 01:31 PM
Small business is the backbone of the American economy, and its success is critical to the nation's recovery. Here at Citi, we are committed to providing small business owners with the advice and tools they need to manage their businesses even better, and to grow and create jobs.
As part of that commitment, we are hosting a series of small business seminars in the New York area that will help business owners make sound financial choices. The program kicked off last week in Brooklyn with an event that focused on the latest techniques to guard against identity theft and online fraud. The series will continue throughout April and early May in Queens, Staten Island and the Bronx, with other seminars addressing "Cash Management Strategies."
By Citi March 16, 2010 05:46 PMCitigroup and the New York City Housing Authority struck what's being called a "creative" fix to finance upgrades to 20,000 local public housing units. The tax credit bond deal generates more than $400 million for the developments, in part by unlocking $108 million in previously announced federal stimulus funds as well as $42 million in New York State modernization funds, Mayor Michael Bloomberg's office says. The renovations are also expected to create hundreds of construction jobs.
The plan capitalizing on private and federal dollars preserves affordable housing. "We want to send a signal to the city where our headquarters is located that we are going to play a much more active role in community development," Citi Community Capital's Andrew Ditton tells Bloomberg News. "This is a showcase for how we can use our financial resources and brain power to create a complex transaction for the public's benefit."
By Citi February 01, 2010 02:49 PM
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