SAN
FRANCISCO, Sept. 29, 2022 /PRNewswire/ -- Uber
(NYSE:UBER) and Visa (NYSE:V) today announced the recipients of
Grants for Growth, a program that provided $1 million in grant funding to small businesses
in 10 U.S. cities that are currently active on Uber Eats. The
program was administered by Local Initiatives Support Corporation
(LISC). Focused on restaurant recovery and entrepreneurship, the
program was created earlier this year as a way to support merchants
when they need it most, particularly as they recover from the
pandemic.
Through Grants for Growth, 100 merchants received 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 received disaster recovery and resiliency guides
from Uber and LISC.
"From labor challenges to supply chain issues,
independently-owned businesses have had another trying year, and
it's important to us that Uber Eats support our merchant partners
with the resources and tools they need to continue to grow." said
Sarfraz Maredia, VP of US and Canada
Delivery at Uber. "With our partners at Visa and LISC, we're happy
to have created a program that's had such impact and has helped
restaurants across the country fund critical investments."
Among the recipients selected by LISC, 92% were entrepreneurs of
color, 69% were female-owned businesses, and 88% of the businesses
were in low or moderate-income areas.
"The proceeds of this grant allowed us to survive, said Umber
Ahmad, Founder of Mahzedahr Bakery in New
York City. "We were able to pay vendors. I was able to pay
my team. We were able to keep the doors open and the lights on and
I'm very grateful for that."
Restaurants active on Uber Eats in Atlanta, Chicago, Los
Angeles, Washington DC,
Miami, Detroit, the NYC metro/New
Jersey area, the San Francisco Bay
Area, Philadelphia, and
Boston were eligible to apply for
the program. Grant recipients were independently selected by LISC,
using criteria to give preference to veteran, minority, women, and
LGBTQIA+ business owners.
"Small businesses are a vital part of our local communities and
we're committed to supporting them for the long-term," said
Mary Ann Reilly, CMO of North America, Visa. "Alongside our partners
at Uber, we're honored to support the diverse recipients of this
program with resources and capital to help them continue to
grow."
For additional information about Grants for Growth and a list of
recipients, visit uber.com/newsroom,
https://merchants.ubereats.com/us/en/resources/community/grants-for-growth/.
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 payments transactions between consumers, merchants,
financial institutions and government entities across more than 200
countries and territories. 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 $26.7 billion to create more
than 436,000 affordable homes and apartments, develop 78.5 million
square feet of retail, community and educational space, and help
tens of thousands of people find employment and improve their
finances. For more, visit www.lisc.org.
Media Contact
LISC
Colleen Mulcahy
colleen@mulcahycommunications.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/uber-and-visa-provide-1-million-in-grants-and-resources-to-support-small-businesses-301636491.html
SOURCE Uber