Progressive Insurance Awards $250K to Black Entrepreneurs Through Driving Small Business Forward Grant Program

Progressive Insurance, the leading commercial auto insurer in the United States, has announced the 10 recipients of its 2023 Driving Small Business Forward grant with Hello Alice in support of Black entrepreneurs. Each small business owner has been awarded a $25,000 grant for use toward the purchase of a commercial vehicle for their business.

While 20 percent of Black Americans start businesses, only 4 percent of Black American businesses survive the startup stage, as they disproportionately struggle with debt and raising capital in addition to challenges such as a lack of helpful relationships in the business community, according to McKinsey & Company. Progressive has stepped in to help.

“At Progressive, we celebrate all business owners, yet we understand Black business owners still face unique challenges,” said Karen Bailo, commercial lines president at Progressive. “For the last two years, the Driving Small Business Forward grant program is one of the ways we’ve been supporting entrepreneurs on their small business journey, and we look forward to seeing how this grant helps these deserving recipients continue their work serving the community.”

Progressive’s grant recipients are: