Synovus Financial: Empowering Entrepreneurship in Alabama Through Significant Investment in Sabre Finance
In a notable move to bolster entrepreneurship and support small businesses in Alabama, Sabre Finance has announced a substantial investment of $500,000 from Synovus. This investment is set to significantly impact the landscape for underserved entrepreneurs in the region, providing them with access to crucial funding and support services to start and expand their small enterprises.
Ray Morris, CEO of Sabre Finance, expressed his gratitude, highlighting the importance of Synovus’s investment in enabling the organization to provide essential capital to Alabama’s small businesses. “The investment from Synovus allows us to deploy much-needed capital to small businesses across Alabama. Sabre Finance has a longstanding partnership with Synovus, and we are most grateful for their continued support,” Morris stated. This contribution reinforces the long-term partnership between Sabre Finance and Synovus, aiming to create a robust environment for small business growth and development.
The additional funds come as an Equity Equivalent (EQ2) investment, a financial tool that enables nonprofit community development financial institutions like Sabre Finance to secure capital that behaves like equity. This is a strategic move to enhance the organization’s economic strength and capacity to support more entrepreneurs.
Sabre Finance is dedicated to addressing one of the significant hurdles for startups: access to capital. The organization not only provides financial assistance but also extends technical support to entrepreneurs. This comprehensive approach ensures ongoing support before, during, and after the capital is deployed, aiding in job creation, revenue increase, and securing real estate, which are critical steps towards building generational wealth among underserved business owners.
Nelson Bean, Alabama division CEO of Synovus, underscored the bank’s commitment to nurturing small businesses that play a vital role in stimulating local economies. “Our partnership with Sabre Finance has allowed Synovus to provide funding for underserved small businesses, including advisory services and other resources, fulfilling our purpose to enable people to reach their full potential,” Bean remarked. Through this investment, Synovus reaffirms its dedication to supporting initiatives that empower small business owners and foster economic growth in Alabama.
About Sabre Finance:
Sabre Finance is committed to promoting financial growth and investments in Alabama. As a 501c(3) nonprofit organization, Certified Development Financial Institution, and SBA lender, Sabre Finance provides a range of financial and technical assistance programs. The institution specializes in working closely with entrepreneurs to tailor support that meets their unique needs for starting or growing their small businesses. With a strong focus on reaching underserved small business communities, Sabre Finance stands out as a leader in economic development initiatives in the state.
About Synovus Bank:
Synovus Bank is a prominent financial institution, providing a wide array of commercial and consumer banking services, along with specialized offerings in private banking, treasury management, wealth management, mortgage services, and more. Operating as a Georgia-chartered, FDIC-insured bank, Synovus boasts a network of branches across Georgia, Alabama, South Carolina, Florida, and Tennessee. Recognized as a Great Place to Work-Certified Company, Synovus is committed to contributing to the communities it serves by supporting meaningful projects and partnerships like its collaboration with Sabre Finance.
The investment from Synovus in Sabre Finance marks a significant milestone in the effort to enhance the entrepreneurial ecosystem in Alabama. By providing financial resources and specialized support to underserved entrepreneurs, both organizations are laying the foundation for a vibrant and inclusive small business community that can drive economic progress and innovation across the region.
