Uber and Visa have linked up to support small businesses as the new year continues to unfold.
The company has announced its Grants For Growth program which will provide small businesses in 10 U.S. cities with $1 million in funding, according to a press release. The program will be led by Local Initiatives Support Corporation (LISC) with a focus on restaurant recovery and entrepreneurship.
“We know that this year has been trying for many and that independently-owned businesses continue to face significant business challenges,” said Sarfraz Maredia, VP of the US and Canada Delivery at Uber in an official press release. “Uber and Visa are committed to supporting SMBs, especially through unexpected events, when they may need us most.”
Grants For Growth
This program will equip 100 merchants with grants in the amount of $10,000 each to be used toward immediate calls-to-action like payroll, paying [an] outstanding debt to vendors, upgrading payment technology infrastructure, and any other operational costs that require immediate attention.
“Independent restaurants are a vital and vibrant part of their communities, and the pandemic continues to impact far too many of them,” continued 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.”