American Express – American Categorical and Most important Street America Announce More Than $2.3 Million in “Backing Little Businesses” Grants for U.S. Small Business enterprise Homeowners

American Express and Main Avenue The united states Associate for Next Year to Give Economic Help to Economically Susceptible U.S. Compact Business enterprise Homeowners

NEW YORK, NY. – March 20, 2023 – American Convey (NYSE: AXP) today released the 2nd calendar year of the Backing Tiny Companies grant method* in partnership with Main Road The united states. This yr, American Express is expanding the quantity of grants awarded and complete funding to far more than $2.3 million to further more assist U.S. little business house owners in addressing important needs.

Starting up currently, qualified small business owners can implement for $5,000 grants to cover expenditures, this sort of as advertising fees, money improvements, and bodily and technological updates.

American Categorical, Primary Avenue America, and pick out group companions will choose 350 grantees, who will be announced in June 2023, and prioritize candidates that have the prospective to improve, revitalize or develop an present modest company in more mature and historic downtowns and community industrial districts nationwide.  

In the fall of this yr, 25 of the grantees will also receive added improvement grants of $25,000 to fund innovative revitalization assignments these as business expansion, funds enhancements, or investment decision in technologies that would even more make improvements to their businesses, though giving merchandise or providers that tackle cultural, environmental, and/or obtain needs in their nearby group.

“We are proud to work alongside Main Street The us to assist little organization homeowners as they navigate latest financial worries.” reported Alice Lin Fabiano, Vice President, Group Effects at American Categorical. “Small small business house owners are at the coronary heart of nearby communities, and considering the fact that the start of our grant plan in 2021, it has been inspiring to see the beneficial affect they have created in communities throughout the place.”

American Express and Primary Road America made a modest business enterprise grant method in 2021 to assist U.S. small business owners as they recovered from the COVID-19 pandemic and appeared to expand their enterprises. To date, the application has presented $1.65 million in grants to 330 tiny enterprise owners nationwide.

Previous Grant Recipients

Image Courtesy of Capone’s Hoagies

“Community to us is almost everything,” explained Robert Capone, co-proprietor of Capone’s Hoagies, a nearby sandwich shop in Newkirk, Alright. “Between the pandemic and the existing troubles satisfied by inflation and labor lack, this grant has been exceptionally encouraging. We’ve considering the fact that made use of the resources to boost the insulation and re-siding of our back workplace and storage location to assist make the shop much more electrical power productive.”

Picture Courtesy of The Funky Frog

“I am pretty appreciative to have been awarded the Backing Small Organizations grant to assistance boost on the internet product sales for my organization,” said Renee Perkins, operator of The Funky Frog Children’s Resale Boutique in Rochester, MI. “With the grant I was equipped to use a community, woman-owned advertising and marketing agency to deal with all of my e-commerce marketing and finally amplified the orders from only three states to 26 in just six months.”

 
Picture Courtesy of Anew Lifestyle Prosthetics and Orthotics 

“It is my enthusiasm to assist just about every amputee or individual with a limb reduction to are living their lifestyle with toughness, braveness, and self esteem, and give them the commitment and determination to do no matter what they put their brain to,” explained Chris Casteel, co-owner of Anew Existence Prosthetics and Orthotics in Detroit, MI. His wife and co-owner, Kim included: “This grant has allowed us to buy electronic adverts to greatly enhance our on the internet outreach among our community. Our cell phone has been ringing off the hook!”

 
Image Courtesy of Hideaway Cafe

“Our cafe serves as a area hub for our group in our historic downtown location,” reported Victoria Armstrong, owner of Hideaway Cafe in Winchester, VA. “But our deteriorating ground and outdated electric powered procedure was making it tough to produce a warm and inviting area. We were being equipped to swap the deteriorating floor and shore up some electrical issues that now lets guests to plug in and do the job remotely from our café. This grant has experienced an tremendous impression on our business enterprise, increasing visitors significantly and generating our spot a true ‘place to be’ in the local community.”

Applications for the Backing Compact Enterprises grant plan are open up now by way of 11:59 p.m. CT on April 7, 2023. Tiny business enterprise proprietors can see eligibility requirements and utilize right here.  

Backing Little Businesses is section of American Express’ Backing Modest initiative, which was created to give economic support and other assets to assist smaller companies. With a commitment of $17 million in resources via 2024, the initiative will present continued aid to economically vulnerable small company house owners and business people by grant programs, mentoring assistance, and technical guidance via recognized community partnerships.

*Formerly identified as Inclusive Backing

 CAUTIONARY Be aware About Ahead-Looking STATEMENTS

This release contains forward-on the lookout statements, which are subject matter to threats and uncertainties. The ahead-wanting statements incorporate text these as “expect,” “goal,” “commit,” “plan,” “will,” “may,” “should,” “could,” “would,” “likely,” and very similar expressions. Actual outcomes may perhaps vary from these established forth in the forward-seeking statements because of to a wide range of elements, which includes those described in the 2021-2022 Environmental, Social and Governance Report and American Express’ filings with the Securities and Trade Commission. Readers are cautioned not to place undue reliance on these ahead-looking statements, which converse only as of the day on which they are built. American Express undertakes no obligation to update or revise any ahead-on the lookout statements.

 Media Get hold of:

Ashley Tufts-Freimuth
[email protected]

Resource: American Categorical Firm

Area: U.S.