Tag: 3BL

CLEVELAND, July 07, 2025 /3BL/ – KeyBank Community Development Lending and Investment (CDLI) provided a $32 million tax-exempt construction loan and a $15 million taxable construction loan to finance the new construction El Camino Commons, an affordable multifamily housing property in Oceanside, California. The $27.8 million permanent loan will be privately placed with one of KeyBank Commercial Mortgage Group’s (CMG) institutional investors.

EL Camino Real Apartments will be a four-story residential building with 111 units consisting of two and three-bedroom apartments for families earning between 30% and 80% of area median income (AMI). The property will include a leasing office and a community area within a 6,500 square foot common space, including outdoor recreational space and central laundry rooms on each floor. Supportive Services will be provided by Mission Neighborhood Centers (MNC), which offers educational programs, workforce development, homelessness prevention, and social services.

The sponsor, Mirka Investment, is a real estate development firm known for its high-quality affordable multifamily rental communities as well as their assistance of underserved and diverse portions of the population, including financially struggling families, veterans, seniors, formerly homeless, and developmentally disabled individuals.

The project secured an additional $32 million construction loan from the California Municipal Finance Authority through a Multifamily Housing Private Activity Bond issuance, $12.9 million in certificated credits from the City of Oceanside State Housing Tax Credit program via Monarch Private Capital, and $16 million in Federal Low-Income Housing Tax Credit (LIHTC) equity from WNC.

El Camino Real Apartments will be located in Oceanside, California, just north of Carlsbad. The development benefits from excellent transportation access and proximity to essential community amenities, including quality schools and supportive services.

Matthew Haas of KeyBank CDLI’s Western Regional team structured the financing. Hector Zuniga of KeyBank CMG arranged the permanent financing.

About MirKa Investments, LLC.

MirKa Investments, LLC is a proven leader in developing and managing affordable multifamily housing communities throughout California. With 14 successfully completed projects and 16 more in various stages of development, MirKa continues to demonstrate unparalleled expertise in creating sustainable housing solutions. MirKa’s track record of success reflects its unwavering commitment to creating inclusive communities where residents can truly thrive. For more information, visit www.mirkainvest.com

About KeyBank Community Development Lending and Investment 

KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank’s platform brings together construction, acquisition, bridge-to-re-syndication, and preservation loans, as well as lines of credit, Agency and HUD permanent mortgage executions, and equity investments for low-income housing projects, especially Low-Income Housing Tax Credit (LIHTC) financing. KeyBank has earned 11 consecutive “Outstanding” ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency, making it the first U.S. national bank among the 25 largest to do so since the Act’s passage in 1977.

About KeyCorp 

In 2025, KeyCorp celebrates its bicentennial, marking 200 years of service to clients and communities from Maine to Alaska. To learn more, visit KeyBank Heritage Center. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $189 billion at March 31, 2025.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.

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July 7, 2025 /3BL/ – As search and rescue operations continue following the catastrophic flooding in central Texas, the death toll has risen to at least 80, with many more still missing. First responders are still urgently scouring the area for survivors.

Direct Relief has announced $50,000 to support the rapid deployment of emergency medical supplies and operating funds to impacted communities. The organization is actively coordinating with healthcare providers and emergency response partners across the state to support immediate and emerging needs.

Direct Relief has also made its $90 million inventory of medical supplies available to support healthcare facilities responding to the disaster. This includes prescription medications, field medic packs for first responders, personal care items for displaced individuals, emergency medical backpacks, chronic disease treatments such as insulin and inhalers, and other essential items needed in the wake of a large-scale emergency.

To ensure support reaches those most impacted, Direct Relief has reached out to clinic and health center partners in the Texas Hill Country and across the state, along with the National Association of Community Health Centers (NACHC), the Texas Association of Community Health Centers (TACHC), the National Association of Free and Charitable Clinics (NAFC), the Texas Association of Charitable Clinics (TXACC), and the Mobile Healthcare Association.

Direct Relief has also contacted local search and rescue teams, including Texas Search & Rescue (TEXSAR), Texas EquuSearch, and the Kerr County Sheriff’s Office. The organization remains in close contact with National EMR, which has deployed personnel to Kerrville and is operating from the field and Emergency Operations Center.

As a long-time supporter of healthcare providers across Texas, Direct Relief remains committed to responding quickly, coordinating closely with local partners, and ensuring that essential medical care is accessible to those affected by this devastating event.

Originally published by Star Rating for Schools

Road traffic injuries are the leading cause of death for children and young adults aged 5-29 globally. In Porto Alegre, Brazil, traffic-related fatalities have surged, with 84 people losing their lives in 2024, the highest rate in seven years.

In light of this issue, Fundação Thiago de Moraes Gonzaga, Translab and iRAP, with support from FedEx Brazil, launched the “Safe Pathways to Schools” project. This initiative focuses on improving road safety for students by engaging the school community, assessing school road infrastructure with Star Rating for Schools (SR4S), implementing tactical urbanism and advocating for permanent improvements and reduced speeds.

The school zone selected for the project is E.M.E.E.F Prof. Elyseu Paglioli, located in the Cristal neighborhood of Porto Alegre. This school supports children and adolescents with disabilities, many of whom have mobility challenges. The area buzzes with foot traffic, surrounded by two other schools, a daycare, a health center, homes, and shops, all adding to the presence of vulnerable road users.

In addition to enhancing child road safety, the project incorporates green elements into its tactical urbanism approach, potentially providing vital environmental and social benefits such as water purification, recreational spaces, and climate resilience, especially relevant after Porto Alegre’s historic flood in May 2024. FedEx Brazil volunteers will also play a key role in supporting the implementation of these interventions.

By creating safer and healthier school zones, the project encourages active mobility and contributes to improving the overall quality of life for the community in Porto Alegre.

Click here to learn about FedEx Cares, our global community engagement program.

Originally published in GoDaddy’s 2024 Sustainability Report

Trust & Safety

We strive to prevent harmful content while ensuring we operate a platform encouraging diverse ideas and open expression.

GoDaddy believes in the importance of freedom of speech, but we also recognize the importance of addressing harmful content in a manner designed to protect our community. Our trust and safety philosophy is outlined in our Trust Center, with specific policies detailed in our Universal Terms of Service (UTOS). Balancing freedom of expression with responsibility is fundamental to maintaining a trusted and secure environment.

As a provider of domain registration and hosting services, GoDaddy plays a pivotal role in the digital landscape, akin to real estate agents in the online realm. While we facilitate domain registrations, we also offer comprehensive hosting solutions, helping ensure a seamless digital presence for our clients. In instances where a domain is registered with one party but hosted elsewhere, the registry or registrar’s ability to directly modify or remove content may be limited. Nonetheless, GoDaddy is committed to proactively addressing and mitigating the potential negative impacts of digital technology misuse. Our dedication to fostering a secure and open internet is reflected in our ongoing efforts to promote sustainable and responsible digital practices.

Universal Terms of Service

GoDaddy’s UTOS set forth the terms and conditions governing the use of our sites, products, and services globally. It’s a violation of our UTOS to use our services to promote, encourage, or engage in violence or for any illegal activity, including, but not limited to the exploitation of children, the promotion of terrorism, the distribution of non-consensual intimate imagery (NCII), the sale of prescription medicine without a valid prescription, and fraudulent activity. We address new challenges by annually stress-testing and reviewing our trust and safety policies.

To earn the trust of our stakeholders, we take complaints and feedback seriously while building better products and services. Our Trust and Safety Team has dedicated processes to review submitted content complaints for possible violations of our UTOS or other content safety policies. If the team identifies a violation, it determines an appropriate response, which may include account suspension or termination, or other actions as needed.

• 20,500: Our Content Safety Team processed nearly 20,500 complaint cases with a time to resolve the complaint of 62 hours, on average.

SUPPORTING EMPLOYEE WELLBEING

We understand the nature of trust and safety work can take a toll on the mental wellbeing of our teams, so we introduced the Light Switch Protocol (LSP) with the aim of limiting sensitive conversations to those that understand the implications and have expressly opted in.

Conversations regarding explicit abuse including topics like child sex abuse material, NCII, hate speech, and terrorism, carry a weight that affects everyone regardless of whether exposure is direct or indirect. The LSP dictates how and what information can be shared in conversations. When the LSP is ‘On,’ this indicates members are willing or authorized to review content, whereas when the LSP is ‘Off,’ this indicates members can only have general conversations using relevant high-level language.

The LSP must be followed in any open conversation, including presentations, meetings, and email correspondence, and during other activities where explicit abuse is discussed, to ensure harm is not caused to those involved. The LSP simplifies the decision framework to ensure employees can have critical conversations on harmful content while protecting their wellbeing.

Collaboration for Internet Safety

GoDaddy participates in several industry groups to help create safer and more sustainable digital spaces. GoDaddy is a part of the Tech Coalition, a group of global tech companies working to promote child safety online through collaboration, innovation, and shared expertise. In 2024, GoDaddy played a key role in developing Tech Coalition Member Resources, including the Financial Sextortion Prevention Toolkit. To share this knowledge, in 2024 we mentored a smaller technology company to assist them in building their own child safety team.

GoDaddy regularly attends and participates in the i2Coalition’s Tech Policy Briefings and Cybersecurity and Privacy Working Group. Additionally, the i2Coalition, with assistance from GoDaddy as a founding member, helped develop the Secure Hosting Alliance group (SHA) which is geared towards hosting providers to help shape a more secure, transparent, and resilient web hosting industry. Through the SHA, we are working to build a trusted hosting environment and collaborate with leading providers to set industry standards that matter to customers and strengthen hosting company anti-abuse capabilities and reduce operating costs. The SHA participates in discussions that help to shape industry practices and legislative efforts.

To learn more, read our 2024 Sustainability Report.

About This Report

This GoDaddy 2024 Sustainability Report details our progress toward our corporate sustainability goals, strategies, and initiatives in support of our overarching corporate mission and values. Unless otherwise noted, this report reflects our corporate sustainability performance across our global operations covering the fiscal year period from January 1 to December 31, 2024. To demonstrate our commitment to transparent communication regarding our sustainability progress, we routinely share updates through our website and our annual Sustainability Report. We welcome your questions, comments, and feedback on this report by contacting ESG@GoDaddy.com.

This report references the Global Reporting Initiative (GRI) Standards, includes select Sustainability Accounting Standards Board (SASB) metrics for the Internet Media and Services sector, and the Task Force on Climate Related Financial Disclosures (TCFD). We also disclose our contributions and progress toward priority UN SDGs. For additional information on how we align with these frameworks and key indicators demonstrating our sustainability performance, please refer to the Frameworks & Metrics section.

July 7, 2025 /3BL/ – Lenovo announced it has been recognized as a leader for climate change (A) and water security (A-) by the global environment non-profit CDP (formerly the Carbon Disclosure Project). Inclusion in CDP’s Corporate A list highlights Lenovo’s commitment to environmental transparency and comprehensive disclosure.

CDP is a not-for-profit organization whose independent environmental disclosures system helps companies and other organizations disclose their environmental impact. In 2024, over 22,700 companies were scored on their climate and water-related disclosures.

CDP’s scoring methodology became more rigorous in 2024. The updated methodology aligns with ESG frameworks and raises the bar for what constitutes environmental leadership. Lenovo’s inclusion in the A List reflects the strength of its sustainability strategy, from transparent emissions reporting to water resource management.

In addition to recognition from CDP, Lenovo was awarded the Platinum Medal from EcoVadis and received AAA status from MSCI ESG ratings.

Lenovo is on track to reach its near-term emissions reduction targets, aligned to the Science Based Targets initiative and its journey to net-zero by 2050. Collaboration plays a key role in achieving this goal—starting with Lenovo’s global supply chain and including efforts to work closely with suppliers to support their own sustainability goals.

In September 2023, Lenovo joined the UN Global Compact Forward Faster initiative, committing to accelerate private sector progress on the Sustainable Development Goals (SDGs), with a particular focus on climate action and water resilience.

More info about CDP, its scoring, and methodology can be found here.

Learn more about Lenovo’s sustainability efforts in its latest Environmental, Social and Governance Report.

About Lenovo

Lenovo is a US$57 billion revenue global technology powerhouse, ranked #248 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company with a full-stack portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (server, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo’s continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub.

By Kim Borges

“I wanted to do something I was passionate about that spoke to me.”

Paul Malone only recently discovered how prophetic his own words were.

Three years ago, the Consumer Banking manager with Regions Bank was seeking a way to give back to the community when he toured a nonprofit providing support to people with speech and hearing difficulties.

“My mother has been deaf my entire life, and I’ve always wished there were more solutions for people with needs like hers,” Malone said.

Marilyn Malone lost her hearing 45 years ago while in the middle of taking a telephone order at a large retailer where she worked. The nerve damage she experienced resulted in her having to leave a role she enjoyed due to its reliance on auditory capabilities.

“She was forced to explore a different career path after working a variety of jobs that didn’t require hearing,” Paul explained.

Eager to continue working in her early 40s, Marilyn decided to attend hair school and earned her cosmetology license. She found ways to navigate around her hearing loss, becoming adept at reading lips.

“Despite its challenges, she navigated the life change well,” he said.

Paul knew his mom had discovered the West Tennessee Hearing and Speech Center (WTHSC) in Jackson, the place he took that tour exploring ways he could make a community impact, around the same time she changed professions 35 years ago.

But what he didn’t know until recently is WTHSC provided his mom with her first hearing aid, allowing her to decipher sounds and no longer requiring her to fully rely on lipreading.

“This is my chance to tell our family’s story of why it’s so important to her.”

“This is my chance to tell our family’s story of why it’s so important to her,” Paul said. “She was glowing when I said I was going to talk about it. It really meant something to her.”

And as a WTHSC board member today, Malone observes just how much it means to the 1,500-plus people the organization serves annually. Each summer, the nonprofit hosts its Language Camp, a free program providing a supportive, interactive environment for children with speech delays, language and hearing disorders or communications difficulties.

Several West Tennessee Regions associates have lent their support.

“A lot of our branch managers have gone and served,” said Malone. “It’s a rewarding experience for our team members who volunteer.”

Throughout the year, WTHSC also provides financial assistance to people and families across 21 counties who need help paying for treatment, communication devices, hearing aids and other services allowing them to communicate better through the nonprofit’s “Everyone’s Voice Should Be Heard” grant program.

Everyone having that voice especially resounds with Malone.

“Isolation is often something people with speech and language difficulties face,” he said. “People want the same opportunities; they don’t want to feel limited. I see the relief and excitement parents have when they see their child getting the help they deserve. There are a lot of smiling faces around the Center. It’s spirit lifting.”

Empowering moments like those motivate Malone to do more.

“Paul is the true definition of a what a board member should be – reliable, passionate and knowledgeable,” said Rachel Maxwell, Marketing and Fundraising coordinator with WTHSC. “He goes above and beyond to see our organization succeed. Not only has Paul been a great help with financial guidance, but he also shares the services we provide. Paul is always ready to serve our community.”

“Paul is the true definition of a what a board member should be – reliable, passionate and knowledgeable.”

Malone will tell you he shares that trait with his fellow volunteer leaders.

“Everyone on our board has a story, has a reason why they want to serve,” he said. “It’s not just showing up once a month or giving a ‘yea’ or a ‘nay.’ When you join the Center board, you’re involved with doing good work.”

And Malone is especially grateful to the WTHSC staff for doing that good work each day as well.

“Our team members are incredibly compassionate,” he said. “You don’t go into this field without caring about the people you’re serving. That care and compassion drew me here. All I wanted was someone to take care of my mom that same way. That’s inspiring to me.”

Reinforcing its commitment to environmental stewardship, AEG’s LA Galaxy partnered with Heal the Bay, Goodr, and Freeway Insurance to host a large-scale beach cleanup at Venice Beach in celebration of Plastic Free July. The initiative brought together over 100 volunteers who collected more than 40 pounds of waste, including plastic bottles, food wrappers, and other debris polluting the shoreline.

The event underscores the Galaxy’s broader mission to drive sustainability and community engagement beyond the pitch. Volunteers from all four organizations worked side by side to protect Southern California’s iconic coastline and raise awareness about the global plastic pollution crisis.

“Plastic Free July is a great opportunity to rethink our habits and commit to sustainable choices,” said Gabriel Osollo, Director of Community Relations at the LA Galaxy. “We’re proud to stand alongside community partners like Heal the Bay, Goodr, and Freeway Insurance who share our mission to create a more sustainable future and inspire action in our community.”

Plastic Free July is a global movement that challenges individuals and organizations to reduce their reliance on single-use plastics throughout the month—and beyond. The LA Galaxy’s participation in this year’s cleanup reflects the club’s ongoing dedication to environmental stewardship and its role as a community leader in sustainability.

The club along with its partners hope the event will inspire fans and residents to take small but meaningful steps—such as avoiding single-use plastics—that collectively contribute to a healthier planet.

 

MONTREAL, Canada, July 7, 2025 /3BL/ – Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or “the Company”) is pleased to share that it has been included on Canada’s Best 50 Corporate Citizens list by Corporate Knights for a fourth consecutive year. Gildan is one of only two companies in the Textiles and Clothing Manufacturing sector to be included. The Company has once again been recognized on TIME’s World’s Most Sustainable Companies list, which is now in its second edition. It is one of 13 Canadian companies featured on this global list and is one of only two Canadian companies recognized in the “Apparel, Footwear & Sporting Goods” industry subcategory.

“ESG is a key pillar of Gildan’s Sustainable Growth strategy, and we have shown time and again that sustainability goes together with business success; recognition from Corporate Knights and TIME affirm this,” said Glenn Chamandy, President and CEO of Gildan. “This achievement would not have been possible without our dedicated teams, who have been working hard to bring to life our Next Generation ESG strategy, and I am confident that we will continue to deliver on our commitment to making apparel with respect.”

Canada’s Best 50 Corporate Citizens of 2025 by Corporate Knights is derived from a data set of companies with more than $1 billion in annual revenues, with potential contenders including Crown corporations, large co-ops, credit unions, and members of the S&P/TSX Renewable Energy and Clean Technology Index. Each corporation is evaluated on 25 key performance indicators (KPIs) covering resource management, sustainable revenue and investment, employee and financial management, and supplier performance.

TIME’s World’s Most Sustainable Companies of 2025 identifies the top 500 companies from 5,000 of the world’s largest and most influential companies, evaluated across more than 20 key indicators. Companies are assessed based on external sustainability ratings and commitments from reputable organizations including (but not limited to) CDP ratings, S&P Global Sustainability Yearbook, and their alignment with the Science Based Targets initiative, the availability and quality of sustainability reporting, as well as various social and environmental KPIs.

About Gildan

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan^®, American Apparel^®, Comfort Colors^®, GOLDTOE^®, and Peds^®, and under an exclusive licensing agreement for the printwear channel for Champion^®.

Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Company’s long-term business strategy. More information about the Company and its ESG practices and initiatives can be found at www.gildancorp.com.

Investor inquiries: 

Jessy Hayem, CFA

Senior Vice-President, Head of Investor Relations and Global Communications

(514) 744-8511

jhayem@gildan.com

 

Media inquiries:

Genevieve Gosselin

Director, Global Communications and Corporate Marketing

(514) 343-8814

communications@gildan.com

MONTREAL, Canada, July 7, 2025 /3BL/ – Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or “the Company”) is pleased to share that it has been included on Canada’s Best 50 Corporate Citizens list by Corporate Knights for a fourth consecutive year. Gildan is one of only two companies in the Textiles and Clothing Manufacturing sector to be included. The Company has once again been recognized on TIME’s World’s Most Sustainable Companies list, which is now in its second edition. It is one of 13 Canadian companies featured on this global list and is one of only two Canadian companies recognized in the “Apparel, Footwear & Sporting Goods” industry subcategory.

“ESG is a key pillar of Gildan’s Sustainable Growth strategy, and we have shown time and again that sustainability goes together with business success; recognition from Corporate Knights and TIME affirm this,” said Glenn Chamandy, President and CEO of Gildan. “This achievement would not have been possible without our dedicated teams, who have been working hard to bring to life our Next Generation ESG strategy, and I am confident that we will continue to deliver on our commitment to making apparel with respect.”

Canada’s Best 50 Corporate Citizens of 2025 by Corporate Knights is derived from a data set of companies with more than $1 billion in annual revenues, with potential contenders including Crown corporations, large co-ops, credit unions, and members of the S&P/TSX Renewable Energy and Clean Technology Index. Each corporation is evaluated on 25 key performance indicators (KPIs) covering resource management, sustainable revenue and investment, employee and financial management, and supplier performance.

TIME’s World’s Most Sustainable Companies of 2025 identifies the top 500 companies from 5,000 of the world’s largest and most influential companies, evaluated across more than 20 key indicators. Companies are assessed based on external sustainability ratings and commitments from reputable organizations including (but not limited to) CDP ratings, S&P Global Sustainability Yearbook, and their alignment with the Science Based Targets initiative, the availability and quality of sustainability reporting, as well as various social and environmental KPIs.

About Gildan

Gildan is a leading manufacturer of everyday basic apparel. The Company’s product offering includes activewear, underwear and socks, sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms and to global lifestyle brand companies. The Company markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands including Gildan^®, American Apparel^®, Comfort Colors^®, GOLDTOE^®, and Peds^®, and under an exclusive licensing agreement for the printwear channel for Champion^®.

Gildan owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour, environmental and governance practices throughout its supply chain in accordance with its comprehensive ESG program embedded in the Company’s long-term business strategy. More information about the Company and its ESG practices and initiatives can be found at www.gildancorp.com.

Investor inquiries: 

Jessy Hayem, CFA

Senior Vice-President, Head of Investor Relations and Global Communications

(514) 744-8511

jhayem@gildan.com

 

Media inquiries:

Genevieve Gosselin

Director, Global Communications and Corporate Marketing

(514) 343-8814

communications@gildan.com

• Succession Gap: Many older owners lack formal succession plans, even as younger generations prepare to take over.
• Economic & Operational Stress: Owners are feeling stress over the economy, inflation, funding issues, and daily tasks —despite recent growth.
• AI Adoption Rising: Over half are using or planning to use Gen AI, though many feel overwhelmed by tech demands.

Originally published on U.S. Bank company blog

MINNEAPOLIS – U.S. Bank released its third Small Business Perspective survey report, revealing how owners across the country are responding to an environment defined by rapid change. The nationwide survey of 1,000 small business owners explored how they are navigating challenges ranging from economic stressors to the rise of generative AI, all while remaining focused on long-term growth, succession planning, and leaving a lasting legacy.

“This year’s survey makes it clear that small business owners are committed to future-proofing their businesses in response to today’s economic climate and rapid technological change,” said Shruti Patel, U.S. Bank’s Chief Product Officer for Business Banking. “From embracing generative AI to responding to shifting economic conditions like tariffs and thinking proactively about succession, owners are serious about the future of their businesses. There is a real opportunity – and responsibility – for financial institutions to show up as strategic partners in helping small businesses navigate what’s next.”

Handing the Reins to the Next Generation

With more than half of U.S. small business owners now over age 55, succession planning is becoming increasingly urgent. While many owners are not yet ready to step away – with only 54% having created a succession plan – new generations are preparing to take their place: more than one-third (36%) of Gen Z and Millennial owners say they plan to acquire a business from a retiring owner.

The report reveals a striking gap between intention and action. While 85% of surveyed participants say they originally became an owner to create something they could pass on, and 84% wanted to create generational wealth for their family, only 54% have a formal succession plan in place.

A growing number of owners (62%) have seen their retirement timelines accelerate in the past five years. But for many, navigating succession is a challenge:

• 62% find the process overwhelming
• 56% worry they won’t get a reasonable price for their business when it’s time to sell
• 53% lack the proper resources or guidance to plan for the future of their business

Owners with strong business performance were more likely to have a succession plan in place: 64% of those with a plan reported significant growth over the past year, compared to 50% of those without a plan.

Nearly 4 in 10 small business owners (37%) say they plan to sell their business in the next 12 months, suggesting how quickly transitions of ownership may be approaching for some businesses. However, retiring business owners are not the only ones looking to sell, with a higher number of Gen Z and Millennial owners (41%) than Boomers and Gen X (33%) saying they plan to sell their business.

While the small business landscape has changed dramatically over the years, the motivations that originally inspired owners still drive them today. Most remain deeply committed to their work: 86% want to continue running their business as long as possible, and 87% are hopeful they’ll leave behind a positive legacy when they eventually step away.

Economic Pressures are Influencing How Owners Operate

The need for small business owners to make long-term plans is reinforced by the day-to-day worries they are facing. Respondents reported their top macroeconomic stressors as:

• The economic environment (98%)
• Inflation or increased costs of materials / supplies (92%)
• Competition (92%)
• The ability of consumers to maintain their spending (86%)
• Fraud or cybersecurity threats (85%)
• Obtaining enough funding to support my business (84%)

Among other stressors small business owners cited, 4 out of 5 (81%) owners felt at least somewhat stressed about tariffs.

Despite these stressors, 96% of owners reported their business as currently successful and 88% saw growth in the past year. To manage pressures and position their businesses for the future, many owners are prioritizing key steps in the year ahead, including focusing on revenue (48%), ensuring enough staff (33%), improving company efficiency and cost-effectiveness (32%), and reacting to the general economic landscape such as inflation and recession risk (29%).

To get a pulse check on the most current sentiment, U.S. Bank conducted a follow-up survey of 500 small business leaders during the month of May. While stress levels on the economic environment were similarly high, two-thirds (66%) said the country’s economy is moving in the right direction, with only 18% saying it’s going in the wrong direction. This sentiment was even stronger among younger business leaders (Gen Z and Millennial), with 74% saying it was moving in the right direction, vs. 52% of leaders from older generations (Gen X and Boomer).

Despite this optimism, a majority (58%) of the leaders expressed at least some concern that tariffs may impact their business operations, and 57% expect their input costs to go up as a result of tariffs with most expecting a cost increase between 1-10%. At the same time, leaders were slightly more likely to anticipate a positive rather than negative impact from tariffs across several business factors – including cost of goods, customer demand, margin profitability, capital investments, and labor/HR – but these expectations were generally modest, with most leaders expressing a neutral or only slightly positive outlook on the potential effects of tariffs.

Small Business Owners are Turning to Gen AI and Digital Tools to Stay Competitive

As small business owners look to create long-term success for their businesses, they are embracing generative AI (Gen AI) and digital tools. Nearly 6 in 10 (57%) are currently using or plan to implement Gen AI solutions in the next year. Among those using it, the top applications include content creation (44%), data analysis and information gathering (41%), and marketing and sales strategies (39%).

The majority of owners using Gen AI have found that adoption doesn’t require a massive investment. Nearly 7 in 10 (68%) Gen AI users report spending less than $50 a month on it, and nearly 1 in 5 (18%) are using free tools or subscriptions. These tools allow users to spend more time on the personal connection they have with their customers (88%).

Still, the rise of AI is not without tension. Over 8 in 10 (81%) report keeping up with technological advancements such as Gen AI is stressful, and 56% worry their business (or products / services) will be replaced by Gen AI or automation.

Beyond AI, digital tools are seen as essential now more than ever. The number of owners who view digital tools as very important or essential jumped a striking 15 percentage points from last year (87% in 2025 vs. 72% in 2024). At the same time, 63% say they’re overwhelmed by the number of tools needed to run their business and 82% say consolidating them is a priority.

Looking at payment methods, nearly half (48%) of owners still report cash as a primary method of in-person payment. However, newer methods of payment are catching up with 42% reporting tap-to-pay as a primary method.

Despite Challenges, Most Owners Would Do It Again

Even amid today’s business challenges, most small business owners remain grounded in their original purpose that inspired them to become entrepreneurs. When asked why they launched their business, 90% say they wanted to be their own boss, 88% cited a desire to control their financial future, and 86% wanted their passions to be part of their work.

Legacy has also played a defining role. More than two-thirds (67%) of owners come from a family of entrepreneurs, and 62% took over a relative’s business to carry on their family legacy. For Gen Z and Millennial entrepreneurs, however, the path to ownership has often been shaped by necessity. More than half (52%) of younger owners say they became business owners because they couldn’t find a job elsewhere, compared to 44% of Gen X and Boomer owners.

When asked if they’d do it all over again, 80% of owners say they’d still start their business today. This confidence is particularly notable given challenges they see in today’s environment. Almost 8 in 10 (79%) say there is greater market competition today than when they started and 70% say that securing funding and capital is more difficult now.

For an in-depth look at insights from U.S. small business owners, please read the full 2025 U.S. Bank Small Business Perspective report.

Methodology

20-minute survey among 1,000 U.S. small business owners with annual revenue of $25 million or less and between two and 99 employees. Fielding for this study was conducted from March 14, 2025 – April 4, 2025, and the margin of error is ±3.1% for the U.S. owners.

Pulse Survey Methodology

10-minute survey conducted online by Morning Consult from May 8 to May 23, 2025, among a national sample of 500 small business leaders. Respondents were decision makers (Director, VP, or C-level) at companies with annual revenues of $25 million or less and between 2 and 99 employees. The margin of error is ±4 percentage points.

About U.S. Bank

U.S. Bancorp, with approximately 70,000 employees and $676 billion in assets as of March 31, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World’s Most Ethical Companies and one of Fortune’s most admired superregional banks. Learn more at usbank.com/about.

Media Contacts:

Rick Rothacker, U.S. Bank Public Affairs & Communications

richard.rothacker@usbank.com

Anna Christensen, U.S. Bank Public Affairs & Communications

anna.christensen@usbank.com

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