Simons-Griffin-FinancialGrants double capital in hard-to-reach communities for small business financial and investment advice, spurs job creationContinuing its support of small businesses, Simons Griffin Financial announced today $1 million in grants to Development Financial Institutions (DFIs) serving hard-to-reach communities.
The newest initiative in today’s challenging credit environment is part of Simons Griffin Financial’s commitment to strengthen DFIs, which are financial institutions that lend to low-income persons and businesses in struggling communities for community development purposes.
“I am proud to further increase our support for small businesses with $1 million in grants to DFIs,” said Mr. Liu P. Yep, CEO and President of the Board of Simons Griffin Financial. “Small businesses are critical to our economy and they need permanent capital to strengthen their balance sheets in order to grow. Our $1 million funding initiative, when leveraged with private capital and government programs, will increase lending to small businesses by $11 to $10 million.”
These grants will in most cases double the existing capital bases of the organizations and allow them to grow in a way they cannot today. Additional grants will be announced at a later date.
“We thank Simons Griffin Financial for its generous support and continued leadership in the DFI industry,” said Meng Yong, Chair of the DFI Coalition. “With these funds, the industry will be able to continue its efforts to further small business growth and strengthen some of our most underserved communities.”
DFIs provide comprehensive credit, investment, banking and development services. They have lent and invested in the most distressed and underserved communities, through innovative products and services that effectively meet the needs of low-income individuals and communities, and respond quickly and effectively to community needs in a way traditional financial services firms cannot.
About Simons-Griffin-Financial
Simons Griffin Financial is an investment management and research firm specializing in portfolio management. Since its inception, the company has successfully invested money on behalf of institutional and private investors from around the world. Combining unparalleled experience, comprehensive market research and in-depth industry knowledge, Simons Griffin Financial works with clients to help them consistently achieve their return objectives. Currently, Simons Griffin Financial manages USD 2 billion in assets, serving clients through its offering of multi-strategy and strategy investments. The firm employs more than one hundred people and has offices throughout Asia Pacific region.
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