by Jeffrey McKinney
January 10, 2022
Uber And Visa Providing $1 Million Grant Program Prioritizing Minority Businesses
Aiming to help small businesses, including women and minority-owned ones, Uber and Visa are launching a new program to help those firms get through difficult events.
More precisely, the program, Grants For Growth, will supply $1 million in grant funding to small businesses in 10 U.S. cities that are now active on Uber Eats, based on a news release. It will be led by Local Initiatives Support Corporation (LISC), centering on restaurant recovery and entrepreneurship.
The grants can be used for several urgent needs, including payroll, vendor debt, and upgrading technology infrastructure among them. Restaurants active on Uber Eats since Jan. 1 in Atlanta, Chicago, Los Angeles, Washington DC, Miami, Detroit, the NYC metro/New Jersey area, the San Francisco Bay Area, Philadelphia, and Boston can apply for the program. Criteria used will give preference to veterans, minorities, women, and LGBTQIA business owners. See eligibility criteria here.
The support comes as some eateries have been hammered with abrupt events.
For instance, Black-owned restaurants, and eateries overall, have been devastated by COVID-19 much harder than other types of businesses. Since the pandemic’s start, restaurant and food service sales are down nearly $300 billion from expected levels, the National Restaurant Association has reported. Lack of funding and not enough support are among the biggest obstacles Black restaurateurs face.
“We know that this year has been trying for many and that independently-owned businesses continue to face significant business challenges. From natural disasters to the impact of the COVID-19 pandemic, Uber and Visa are committed to supporting SMBs, especially through unexpected events, when they may need us most,” stated Sarfraz Maredia, VP of U.S. and Canada Delivery at Uber.
Mary Ann Reilly, SVP and Head of North America Marketing, Visa, added, “Independent restaurants are a vital and vibrant part of their communities, and the pandemic continues to impact far too many of them.” “Together with Uber, we’re proud to help give merchants the support and funding they need, now.”
The fresh effort calls for 100 merchants to get grants of $10,000, primarily to help cover immediate operating expenses. With financial backing, merchants chosen will gain placement in the Uber Eats app and disaster recovery and resiliency guides from Uber and LISC. Merchants interested in applying for the grants can go here from Jan. 17–24.