Grant program is now accepting purposes
Applications
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Progressive Insurance coverage has introduced that it’s accepting purposes for its Driving Enterprise Ahead grant program, which goals to help Black entrepreneurs.
This system will award $25,000 grants to every of the ten small enterprise house owners who’re chosen to assist them buy industrial autos for his or her companies.
Whereas 20% of Black People begin companies, solely 4% of those companies survive the start-up stage, primarily because of the issue Black enterprise house owners have in accessing financing.
The grant program is designed to assist shut this hole for Black entrepreneurs and help their companies.
Progressive is working with Howdy Alice, a monetary know-how group that helps small companies entry capital, to manage the grant program.
This system goals to spend money on inclusive entrepreneurship so that each one People with an entrepreneurial spirit can entry the funding, instruments, and assets they should succeed.
“At Progressive, we acknowledge the challenges that small enterprise house owners face every day. Our hope is that this program will present help to Black entrepreneurs as they navigate their small work trip and assist them overcome any boundaries,” mentioned Karen Bailo, industrial strains president at Progressive Insurance coverage.
Purposes at the moment are open for this system, and the deadline for submissions is June 2, 2023, at 6 p.m. ET. Eligible people will want to enroll in a free Howdy Alice account and full their software.
A committee will overview the purposes in keeping with the factors outlined within the phrases and situations, and recipients will probably be notified by way of electronic mail and publicly introduced in August.
Full eligibility necessities, together with restricted companies, may be present in this system’s phrases and situations.
That is the second 12 months that Progressive has launched the Driving Enterprise Ahead grant program, with the model beforehand awarding 10 Hispanic enterprise house owners every with a $25,000 grant to assist propel their small companies.
Progressive has dedicated a complete of $600,000 to small companies in partnership with Howdy Alice, inclusive of the 2023 program.
“We’re excited to work with Progressive once more this 12 months and host the Driving Small Enterprise Ahead Grant Program. Recipients will be capable of drive their enterprise ahead with the capital wanted to buy a industrial automobile,” mentioned Elizabeth Gore, co-founder and president of Howdy Alice.
The Driving Enterprise Ahead grant program is a superb alternative for Black entrepreneurs to obtain help and assets to develop their companies.
Progressive and Howdy Alice’s dedication to investing in inclusive entrepreneurship ensures that small enterprise house owners of all backgrounds and ethnicities can entry the funding they should succeed.
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