As per reports, Uber and Visa (V) 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, focussing on restaurant recovery and entrepreneurship, the program was created to support merchants when they need it most. Grant recipients will be independently selected by Local Initiatives Support Corporation (LISC) using criteria to give preference to the veteran, minority, women, and LGBTQIA+ business owners.
Restaurants active on Uber Eats since January 1, 2022, in Chicago, Atlanta, 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.
Through Grants for Growth, 100 merchants will receive grants of $10,000, which can be used toward immediate needs including vendor debt, payroll, upgrading technology infrastructure, and more.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Its mission is to connect the world through the most innovative, reliable, and secure payment network – enabling individuals, businesses, and economies to thrive. Their advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network, and scale to reshape the future of commerce. To learn more about Visa (V) and to track its ongoing progress please visit the Vista Partners Visa (V) Coverage Page.)
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