At Santander US, we believe in making a lasting, positive impact on the communities where we live, work, and serve. Last summer, Santander US announced its latest Community Plan, a three-year commitment of $4.6 billion in community reinvestment and $9 billion in sustainable finance, on behalf of Santander’s businesses across the United States.
The Santander US Community Plan, in addition to the Prosperity with Purpose Report, is an extension of the company’s ongoing commitment to sustainable solutions and helping people and businesses prosper for generations to come. From 2023 through the end of 2025, Santander US is committing:
- $1.5 billion in small business lending
- $3 billion in community development lending and investments, with more than $2.5 billion in affordable housing
- $9 billion in sustainable finance investment, with a focus on renewable energy
- 100% increase in direct supplier diversity spending
- $100 million in charitable giving to nonprofit organizations
- 100,000 employee volunteer hours in underserved communities
In the first year of the Community Plan, Santander US made important progress toward meeting its targets, including $577 million in small business lending, $33.3 million in charitable giving, and more than 68,000 of employee volunteer hours.
The Plan was developed in collaboration with community stakeholders across the Santander US footprint and the National Community Reinvestment Coalition. Commitments are guided by input from our Community Advisory Board and community partners, which are instrumental in advising us on new product and program development, community impacts and needs, and monitoring Santander US’ progress toward plan goals and commitments.
To celebrate a year since announcing these commitments, and the 2023 milestones, several of the company’s partner organizations took a moment to reflect on how the Community Plan is making a lasting impact across the Santander US footprint and beyond:
“Community First Fund has a longstanding and robust relationship with Santander. With Santander’s support, we’ve grown access to capital for entrepreneurs and business owners to expand businesses and create jobs for residents of low-income communities. These local businesses provide critical access to healthy foods, healthcare, affordable housing, and childcare. Most recently, Santander provided essential early support for the founding of our first credit union branch. Our credit union provides responsible and transformative financial services and education to underserved individuals and families.”
Dan Betancourt
President & CEO, Community First Fund
“Santander’s steadfast support of Rising Tide Capital’s mission has helped us deliver on our vision of inclusive communities of resilient entrepreneurs who are building a just, sustainable and thriving future economy. As we celebrate our 20th year in service, we are grateful to partners like Santander who are doubling down on the exciting work ahead of us!”
Alfa Demmellash
CEO & Co-Founder, Rising Tide Capital
“Santander's partnership with ICIC has been transformative, empowering underserved entrepreneurs through programs like Santander's Cultivate Small Business. Their unwavering support has enabled us to provide critical resources and training to early-stage businesses, particularly women-, minority-, and immigrant-owned ventures in food-related industries. This collaboration not only fosters economic growth and prosperity in low-income neighborhoods but also builds a more inclusive and resilient community. Together, we are creating paths to success and ensuring that these entrepreneurs have the tools they need to thrive.”
Steve Grossman
CEO, Initiative for a Competitive Inner City
“The partnership with Santander has been a game changer at City College of New York’s Colin Powell School. It has led to a dramatic expansion in instruction and support for CCNY students interested in careers in the field of finance. As a school that is almost two-thirds first generation college students, half immigrants, and eighty-five percent students of color, our partnership with Santander is helping to bring new and diverse professionals to the financial sector. We are enormously grateful for its impact at our school and in the sector.”
Andrew Rich
Dean, Colin Powell School for Civic and Global Leadership at City College of New York
“Santander’s Cultivate Small Business program has been a game-changer for small businesses in South Florida and Miami. The specialized 12-week program and food industry mentorship have helped our Miami graduates take their businesses to the next level. We are proud to continue this successful partnership between Florida SBDC at FIU and Santander Bank.”