Uber and Visa today announced Grants for Growth, a program that will provide $1 million in grant funding to small businesses in 10 U.S. cities that are currently active on Uber Eats. The program will be administered by Local Initiatives Support Corporation (LISC). Focused on restaurant recovery and entrepreneurship, the program was created to support merchants when they need it most.
Read More: SalesTechStar Interview With Gemma Cipriani-Espineira, Chief Customer Officer At Chili Piper
Grants can be used for all immediate needs including payroll, vendor debt, upgrading technology infrastructure, and more
“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,” said Sarfraz Maredia, VP of US and Canada Delivery at Uber.
Restaurants active on Uber Eats since January 1, 2022 in Atlanta, Chicago, Los Angeles, Washington DC, Miami, Detroit, the NYC metro/New Jersey area, the San Francisco Bay Area, Philadelphia, and Boston are eligible to apply for the program. Grant recipients will be independently selected by LISC, using criteria to give preference to veteran, minority, women, and LGBTQIA+ business owners.
Read More: EnergyOrbit Names New Head Of Sales To Leadership Team
“Independent restaurants are a vital and vibrant part of their communities, and the pandemic continues to impact far too many of them,” said Mary Ann Reilly, SVP and Head of North America Marketing, Visa. “Together with Uber, we’re proud to help give merchants the support and funding they need, now.”
“The United States Hispanic Chamber of Commerce applauds our partners at Visa and Uber for launching this important grant program. Small businesses, especially minority-owned businesses, continue to struggle to survive during this pandemic and are working to overcome new challenges,” said Ramiro A. Cavazos, President & CEO, USHCC. “As small businesses reopen their doors and look towards recovering, they need access to capital as well as resources and tools now more than ever before. This program comes at the perfect time.”
Through Grants for Growth, 100 merchants will receive grants of $10,000, which can be used toward immediate needs such as payroll, paying outstanding debt to vendors, upgrading payment technology infrastructure, and other immediate operational costs. In addition to financial support, selected merchants will receive placement in the Uber Eats app and disaster recovery and resiliency guides from Uber and LISC.
