\nMayor Lurie added: \u201cThrough our Heart of the City plan, our administration is working every day to accelerate San Francisco\u2019s economic comeback and bring energy back to our downtown. Investments like this one help strengthen our downtown and support the small businesses that make our city thrive. Thank you to Citizens for their commitment to San Francisco and investment in our economic recovery.\u201d<\/p>\n
\nSupporting Small Businesses and Downtown Revitalization<\/p>\n
\nRecognizing that a vibrant downtown is essential to San Francisco\u2019s economic recovery, Citizens is making targeted investments to help small businesses open, grow and succeed in the city\u2019s core commercial corridors. These include:<\/p>\n
Announcing a $250,000 grant as a founding supporter of the San Francisco Downtown Development Corporation\u2019s Downtown Business Fund to help new and existing businesses open and grow in currently vacant storefronts across high-traffic corridors such as Powell Street, Stockton Street, and other key retail areas.<\/p>\n
Committing $500,000 to Main Street Launch, a local Community Development Financial Institution, to support their San Francisco Downtown Small Business Fund that provides access to capital and technical assistance for early-stage and undercapitalized small businesses.<\/p>\n
Committing an additional $5 million in dedicated lending capacity to support larger small businesses in downtown San Francisco with their more significant and complex capital needs. This commitment includes support for real estate improvements, buildouts, long-term expansion and will strengthen small business resilience while contributing to a more active, welcoming downtown environment for residents, workers and visitors.<\/p>\n
\n\u201cOpening more businesses downtown is essential to the city\u2019s recovery,\u201d said Shola Olatoye, CEO of the San Francisco Downtown Development Corporation. \u201cCitizens\u2019 investment will help entrepreneurs create jobs and turn vacant storefronts into places people want to visit, work and spend time.\u201d<\/p>\n
\nInvesting in Housing Stability and Opportunity<\/p>\n
\nAs part of its broader commitment to housing affordability across California, Citizens is supporting the creation of new affordable housing in San Francisco neighborhoods experiencing rapid change. In 2025, that included nearly $125 million of lending and equity investments across the city, including the recently finished project in Bernal Heights, and the bank expects to meet or exceed that funding level in 2026.<\/p>\n
\nAt 3300 Mission Street in Bernal Heights, Citizens provided a combination of equity and construction financing to support the development of 35 new affordable rental homes, replacing a long-vacant property with housing for low- and moderate-income residents.<\/p>\n
\nCitizens goes beyond the financing by investing in residents through its Economic Opportunity Fund. The bank committed more than $500,000 to support resident services at the Mission Street property, including access to technology, financial empowerment programming, and life-coaching\u2014resources designed to help residents build stability, strengthen financial health and pursue long-term opportunity.<\/p>\n
\nA Durable Partner in San Francisco\u2019s Future<\/p>\n
\nSince expanding into California with the acquisitions of JMP Securities<\/a> and Trinity Capital<\/a>, followed by the launch of Citizens Private Bank<\/a> in 2023, the bank has broadened its presence across the state through community partnerships aimed at fostering financial empowerment and supporting workforce development.<\/p>\n Citizens brought its signature Champions in Action community program to the region, recognizing three local nonprofits and providing $150,000 in funding.<\/p>\n Citizens recently committed $400,000 to bring Education Design Lab<\/a> to California and establish new workforce micro pathways at several community colleges, aligning education with local workforce demand.<\/p>\n As part of a larger partnership with California-based career exploration nonprofit Roadtrip Nation<\/a>, Citizens is proud to fuel Many Roads Forward<\/a>, a two\u2011episode documentary series that explores how individuals across the country are navigating nontraditional pathways into meaningful careers.<\/p>\n Citizens has committed $65,000 to support three Junior Achievement chapters in California, including JA of Northern California, to help students build financial skills and career awareness.<\/p>\n \nThese community investments reflect Citizens\u2019 broader California strategy: pairing the strength and stability of a national financial institution with local leadership, tailored solutions and long-term commitment. From affordable housing and workforce support to small business growth and downtown revitalization, Citizens\u2019 investments are designed to support San Francisco\u2019s progress and resilience.<\/p>\n \n\u201cSan Francisco has always been a center of innovation, talent and opportunity,\u201d said Mark Lehmann, California Market President, Citizens. \u201cBy providing capital, expertise and partnership, Citizens is committed to helping San Francisco, and its residents, thrive both today and for the long-term.\u201d<\/p>\n \nWith approximately 400 colleagues across 14 Corporate and Private Bank offices, and cross-sector capabilities, Citizens serves the entrepreneurs, innovators and community partners who drive the city and state forward.<\/p>\n View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20260317109190\/en\/<\/a><\/p>\n<\/p>\n