Uber and Visa Announce Grants For Growth Program, Providing $1 Million in Grants and Resources to Support Small Businesses

Rhea-AI Summary

Uber (NYSE: UBER) and Visa (NYSE: V) launched the Grants for Growth program, allocating $1 million to support small businesses impacted by the pandemic across 10 U.S. cities. Each of the 100 selected merchants will receive $10,000 for immediate needs such as payroll and technology upgrades. Eligible businesses must have been active on Uber Eats since January 1, 2022, in cities including Atlanta, Chicago, and Los Angeles. The program, administered by LISC, aims to promote restaurant recovery and entrepreneur support.

Positive

• Uber and Visa are providing $1 million in grants to support small businesses.
• 100 merchants will receive $10,000 each for immediate operational needs.
• Focus on supporting minority, veteran, women, and LGBTQIA+ business owners.
• Eligible businesses include restaurants active on Uber Eats since January 1, 2022, in major U.S. cities.

Negative

• None.

SAN FRANCISCO, Jan. 10, 2022 /PRNewswire/ -- Uber (NYSE:UBER) and Visa (NYSE:V) 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.

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

Additional details about eligibility and the Grants for Growth program can also be found at lisc.org/uber.

About Uber
Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to 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.

Media Contact
Uber
press@uber.com

About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating 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, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Media Contact
Visa
Kryssa Guntrum
press@visa.com

About LISC
LISC is one 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 and 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 and develop 74.4 million square feet of retail, community and educational space. For more, visit www.lisc.org.

Media Contact
LISC
Colleen Mulcahy
colleen@mulcahycommunications.com

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SOURCE Uber

FAQ

What is the Grants for Growth program by Uber and Visa?

The Grants for Growth program is a collaboration between Uber and Visa, providing $1 million in funding to support small businesses impacted by the pandemic.

How much funding is available through the Grants for Growth program?

The program offers a total of $1 million in grants, with each of the 100 selected merchants receiving $10,000.

Which cities are eligible for the Grants for Growth program?

Eligible cities include Atlanta, Chicago, Los Angeles, Washington DC, Miami, Detroit, NYC metro/New Jersey, San Francisco Bay Area, Philadelphia, and Boston.

When can businesses apply for the Grants for Growth program?

Businesses can apply from January 17 to January 24, 2022.

Who is administering the Grants for Growth program?

The program is administered by the Local Initiatives Support Corporation (LISC).