Detroit Pistons owner announces FlintNOW initiative with $25M commitment

(WJBK) - An effort to boost Flint amid the city's crisis with lead-tainted water is getting a $25 million commitment that includes loans and specialized mortgage financing from Huntington Bank.

Detroit Pistons owner Tom Gores, a Flint native, and Huntington Bank CEO Steve Steinour announced the economic development program Wednesday.

The partnership involving the FlintNOW campaign and Columbus, Ohio-based Huntington Bancshares Inc. is aimed at helping people in Flint and Genesee County including homeowners, businesses and entrepreneurs. Gores earlier pledged to raise $10 million to help Flint.

The new program includes a $20 million commitment for small business loans, a $2 million commitment for microlending to small businesses and a $2 million commitment for specialized mortgage financing available for fixing up homes.

Grants totaling $1 million will be offered to small businesses.