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American Express and the National Trust for Historic Preservation Launch Third Year of $1 Million Grant Program “Backing Historic Small Restaurants”
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American Express (NYSE: AXP) has announced the third installment of its "Backing Historic Small Restaurants Grant Program," allocating $1 million in grants to 25 historic small restaurants across the U.S. Each restaurant will receive a $40,000 grant aimed at supporting their growth amid ongoing challenges. Additionally, recipients will gain complimentary access to ResyOS, a restaurant management platform. This initiative, which has already provided $2 million to 50 historic restaurants, underscores American Express’s commitment to backing small businesses, with a total investment of $17 million through 2024 for various initiatives aimed at supporting underrepresented entrepreneurs.
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Allocation of $1 million in grants to 25 historic small restaurants, supporting their growth.
Free access to ResyOS for grant recipients, enhancing operational efficiency.
Previous grants of $2 million have positively impacted 50 historic restaurants, showing tangible community benefits.
Continued commitment of $17 million by American Express through 2024 for small business initiatives.
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The program will award $40,000 grants to 25 historic U.S. small restaurants, supporting the future growth of these establishments as they navigate current challenges.
This initiative is part of American Express’ long history of backing small businesses.
NEW YORK--(BUSINESS WIRE)--
American Express (NYSE: AXP) and the National Trust for Historic Preservation today announced the third installment of the “Backing Historic Small Restaurants Grant Program,” which will once again award $1 million collectively in grant funding to 25 recipients across the country. The grants will be funded by American Express and administered by the National Trust for Historic Preservation.
Stamps Super Burgers in Jackson, MS, 2022 BHSR grant recipient (Photo: Business Wire)
As part of the grant program, Resy, a hospitality technology platform that is part of the American Express family, will also offer complimentary use of ResyOS – its restaurant management software – for one year to each of the historic small restaurants selected to help streamline costs and boost restaurant operations.
“We’re proud to give small restaurants the resources they need to grow their businesses and continue their legacies for years to come,” said Alice Lin Fabiano, Vice President, Community Impact at American Express. The “Backing Historic Small Restaurants” grant program reaffirms our long-standing commitment to backing small business owners.”
“Historic small and independent restaurants face many challenges, yet they continue to anchor their communities in invaluable ways, sharing cultural traditions and creating special places for gathering and celebrating together,” said Katherine Malone-France, Chief Preservation Officer, National Trust for Historic Preservation. “The National Trust is honored to partner with American Express to protect and sustain these places as they reflect all our stories, memories, and traditions.”
Over the past two years, 50 U.S. historic restaurants collectively received $2 million. Restaurant owners used the grant funds to make needed improvements to their businesses which led to a number of positive impacts on their communities.
“The grant gave us the opportunity to update our exterior facade and provided us with more energy-efficient windows and doors during the cold winters and hot summer seasons. Our regular customers noticed our new look right away and they are very impressed with the work so far,” said Nadine Hunt, owner of Miller’s Soul Food in Dublin, GA and 2022 BHSR grant recipient. "Because of that needed work, we’ve seen an increase in dine-in customers during our lunch hours.”
Another 2022 grant recipient, Phil Stamps Jr., Head of Operations and Development for Stamps Super Burgers in Jackson, MS added how the grant impacted his local community. “This grant has been uplifting for the entire community. Our restaurant sits in the heart of Washington Addition, which is a residential neighborhood here in West Jackson. Our neighbors have raved about the preservation work.”
Backing Historic Small Restaurants is part of American Express’ Backing Small initiative, focused on providing financial support and other resources to help small businesses address critical needs. American Express has a long history of supporting small businesses through a number of key initiatives including Shop Small and the Coalition to Back Black Businesses. With $17 million in funds committed through 2024, the Backing Small Initiative continues to support underrepresented and economically vulnerable small business owners and entrepreneurs and includes grant programs, mentoring support, and technical assistance through established community partnerships.
To be eligible for a grant, U.S. independent small restaurants must operate in historic buildings or neighborhoods, contribute to their neighborhood’s history and identity, and have a diverse story about cuisine and community in America. Restaurant owners can learn more and apply for the grant program here. Additionally, community members can nominate their favorite establishments that fit the criteria for consideration. Formal applications and public nominations will be accepted beginning at 8:00 AM ET on February 23, 2023, through 11:59 PM ET on March 12, 2023.
Restaurant owners can apply for the grant program here.
ABOUT THE NATIONAL TRUST FOR HISTORIC PRESERVATION
The National Trust for Historic Preservation, a privately funded nonprofit organization, works to save America’s historic places. SavingPlaces.org | @savingplaces
American Express has invested more than $30M to preserve historic places in the U.S. through its close partnership with the National Trust for Historic Preservation since 1992.
What is the Backing Historic Small Restaurants Grant Program by AXP?
The Backing Historic Small Restaurants Grant Program is an initiative by American Express that provides $1 million in grants to 25 historic small restaurants to help them grow and improve.
How much funding will AXP allocate to each restaurant in the grant program?
Each selected restaurant will receive a grant of $40,000.
When can restaurant owners apply for the AXP grant?
Restaurant owners can apply for the grant starting February 23, 2023, until March 12, 2023.
What is the purpose of the AXP's partnership with the National Trust for Historic Preservation?
The partnership aims to support and sustain historic small restaurants that contribute to their community's history and culture.
What additional benefits do grant recipients receive from AXP?
In addition to grant funding, recipients will receive complimentary use of ResyOS, a restaurant management software.
