CORRECTING and REPLACING A Half-Million Reasons to Celebrate: Community Reinvestment Fund, USA Wins $500,000 “Giving Made Simple” Grant from Sam’s Club

MINNEAPOLIS--(BUSINESS WIRE)--Fifth paragraph, first sentence of release should read: The $500,000 Sam’s Club grant will help attract other funds to drive an additional $90 million in loans and approximately 4,500 jobs. (sted The $500,000 million Sam’s Club grant will help attract other funds to drive an additional $90 million in loans and approximately 4,500 jobs).

“Now more than ever before, business owners need our help to get the financing they need to grow, hire and succeed. We are so grateful to Sam’s Club for giving CRF USA the opportunity to help so many Americans.”

The corrected release reads:

A HALF-MILLION REASONS TO CELEBRATE: COMMUNITY REINVESTMENT FUND, USA WINS $500,000 “GIVING MADE SIMPLE” GRANT FROM SAM’S CLUB

Minneapolis-based CRF USA places second in online voting; grant will help hundreds of small businesses nationwide get financing, create jobs

Community Reinvestment Fund, USA (CRF USA), a nonprofit that helps U.S. communities thrive by supporting small businesses and job creation, announced it has won a $500,000 “Giving Made Simple” grant from Sam’s Club, a division of Walmart.

Beginning April 8, Sam’s Club members and associates voted online for one of eight finalist organizations, including CRF USA. Out of more than 125,000 votes cast as part of the Giving Made Simple campaign, CRF USA received the second-highest vote total in the “entrepreneurship” category to win the half million-dollar prize.

“Thanks to the Sam’s Club members and associates who voted for us every day, CRF USA and our many lending partners can now bring better jobs to thousands of working men and women across the country,” said Frank Altman, CRF USA founder and CEO. “Now more than ever before, business owners need our help to get the financing they need to grow, hire and succeed. We are so grateful to Sam’s Club for giving CRF USA the opportunity to help so many Americans.”

Founded in 1988, CRF USA helps create jobs and business opportunities in low- and middle-income neighborhoods around the country. For the past 22 years, CRF USA and its partners, including local banks, nonprofit organizations and major financial institutions, have helped secure nearly 45,000 American jobs in underserved communities.

The $500,000 Sam’s Club grant will help attract other funds to drive an additional $90 million in loans and approximately 4,500 jobs. The impact will reach far beyond the businesses themselves, empowering workers, vendors and neighbors whose lives depend on small business success.

“Sam’s Club is pleased to award $500,000 to CRF USA and we are thankful to all of the organizations who participated in Giving Made Simple, and our members and associates for helping to make this campaign such a success,” said Cindy Davis, Executive Vice President, Membership, Marketing and E-commerce at Sam’s Club. “We have all been inspired by the hard work and dedication of these organizations, and are excited to see the social and economic impact that these grants will have on the communities that Sam’s Club serves.”

CRF USA will put its grant dollars to work immediately, supporting its business loan program that helps entrepreneurs in low-income communities get the financing they need to grow, hire and succeed.

“We know that small businesses are the key to American economic recovery, and their greatest need today is accessible, affordable business financing,” Altman said. “Thanks to Sam’s Club, CRF USA is able to meet this essential need and create financial stability for thousands of business owners, their families, employees and communities.”

About CRF

Community Reinvestment Fund, USA (CRF), a nonprofit organization and certified Community Development Financial Institution, is the nation’s leader in bringing capital to public and private, nonprofit community development lenders through the secondary market for community development loans. Formed in 1988, CRF has injected more than $1 billion into low-income and economically disadvantaged communities around the country to help stimulate job creation and economic development, provide affordable housing, and support community facilities. CRF is headquartered in Minneapolis, Minn. www.crfusa.com

About Giving Made Simple

Giving Made Simple is a new addition to a long history of charitable contributions made by Sam’s Club at both the national and local level. Last year, Sam’s associates logged over 113,879 hours to the Volunteerism Always Pays grant program, which resulted in $948,000 worth of charitable grants to education, workforce development, environmental, and health- and wellness-focused organizations. In addition, Sam’s Club continues to participate in the Wal-Mart Foundation’s efforts to provide disaster assistance, hunger relief and events, such as the Salvation Army Red Kettle Holiday Drive and Children’s Miracle Network fundraising.