Woman in mask holding up food delivery, representing small businesses delivering food
Photo by Anna Shvets from Pexels
Cash Flow Money News Briefs Resources

Uber and Visa Announce Grants For Growth Program to Support Small Businesses

Uber and Visa recently 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 the Local Initiatives Support Corporation (LISC). Focused on restaurant recovery and entrepreneurship, the program was created to support merchants when they need it most.

“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.

Helping small businesses thrive in the COVID era

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. LISC will independently select grant recipients. Preference will go to veteran, minority, women and LGBTQIA+ business owners. For a complete list of eligibility criteria visit lisc.org/uber. 

“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. Grants 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. Merchants interested in applying for the Grants for Growth program can apply at lisc.org/uber  from January 17-24, 2022.

Find additional details about eligibility and the Grants for Growth program at lisc.org/uber.

About Uber

Founded in 2010, Uber’s mission is to create opportunity through movement. We aim to solve a simple problem: how do you get a ride at the touch of a button? More than 15 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food and things move through cities, Uber is a platform that opens up the world to new possibilities.

About Visa Inc.

Visa is a world leader in digital payments. We facilitate more than 215 billion payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network. This enables individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere. We see access as foundational to the future of the money movement. Learn more at Visa.com.

About LISC

LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity. We aim to advance racial equity so that people and places can thrive. Since our founding in 1979, LISC has invested $24 billion to create more than 436,320 affordable homes and apartments. We have developed 74.4 million square feet of retail, community and educational space. For more, visit www.lisc.org.

Check out these 7 money resources for female entrepreneurs in January!