Flint gets $25M from Detroit Pistons and a local bank

Battered by slowdown in the U.S. auto manufacturing industry and a recent water crisis, Flint, Mich., is receiving financial assistance from a local bank and a professional basketball team.

According to CNNMoney, the Detroit Pistons and Huntington Bank (Nasdaq: HBAN), which operates nine branches in the Flint area, are providing $25 million to local businesses.

The amount includes $22 million in small-business loans, $2 million in mortgage financing and $1 million in grant funding.

The initiative comes nearly three months after Gov. Rick Snyder declared a state of emergency in Flint over lead contamination in the city’s drinking water supply.

Read more from CNNMoney.