Company funds approximately $1 million in grants for minority-owned businesses impacted by COVID-19
BROOKFIELD, Wis., October 29, 2020 — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions headquarted in the Milwaukee area, is helping its headquarters hometown get Back2Business by providing support to small, minority-owned businesses that have been disproportionately impacted by the COVID-19 pandemic and recent social unrest.
The Back2Business program connects small businesses with critical resources, including complimentary mentorship, subject matter expertise and business coaching, leading technology solutions such as the Clover® point-of-sale platform from Fiserv, and community partners. In partnership with the Association for Enterprise Opportunity, a leading national nonprofit expanding economic opportunity for Black entrepreneurs through its Tapestry Project, the program also includes approximately $1 million in grants for Milwaukee businesses, with up to $10,000 awarded to individual businesses.
“At Fiserv, we believe that companies can be a platform for good, and that we have an opportunity and obligation to help, from Main Street to Wall Street,” said Frank Bisignano, President and Chief Executive Officer of Fiserv. “Small businesses are essential to keep our economy running and we’re honored to be in a position where we can stand together with so many stakeholders to help move the world forward together.”
Eligible Black- or minority-owned small businesses may apply for a Fiserv Back2Business Grant to assist with payroll, rent or lease payments, technology or equipment purchases, or premise redesign. Merchants must have revenues of less than $1 million annually, be founded prior to June 1, 2019 and have fewer than 10 employees. Applications will be accepted from October 26, 2020 through November 3, 2020.
“We know full well the economic toll and financial hardship small businesses are experiencing at this unprecedented time,” said Bob Hau, Chief Financial Officer at Fiserv. “We saw an opportunity to create meaningful and positive impact by helping these businesses get back to business. Through this program, Fiserv is committed to providing education, coaching, and capital to help create sustainable businesses and fuel growth in our our community.”
Milwaukee Merchants Getting Back2Business
Last week, Fiserv delivered Back2Business grants, which included $10,000 as well as consulting services and technology, to four Milwaukee-area merchants:
- Confectionately Yours: When this retail bakery, located at Sherman Phoenix, was forced to temporarily close its doors in March, owner Adija Smith rose to the occasion and donated more than 10,000 cookies to city hospital workers. She intends to use the Back2Business grant to complete a website with ordering functionality and to purchase merchandising equipment. @confectionatelyyours_ggg
- Heaven’s Table BBQ: Jason Alston’s East Side eatery has suffered a decline in customers and catering orders, while facing increasing prices for food and other supplies. He will use the Back2Business grant to buy stock and protective equipment including gloves and masks. @heavenstablebbq
- Power Moves MKE: This St. Francis-based moving company has worked hard to keep its customers and employees safe in an industry where physical distancing is difficult and in-person service essential. Earning a Back2Business grant means co-owners Eric Evans and Chris Crampton can purchase personal protective equipment for their staff, along with cleaning supplies for their moving trucks and tools. @powermovemke
- Twisted Plants: Inspired by her lymphoma diagnosis and a decision to switch to a plant-based diet, co-owners Arielle and Brandon Hawthorne started a food truck selling vegan comfort food before opening their brick-and-mortar location in Cudahy. Twisted Plants, already a user of the Clover platform, will use the grant to purchase personal protective equipment and make lease payments. @twistedplantsmke
Fiserv is also working directly with local business advocacy groups and community resource organizations, the African American Chamber of Commerce of Wisconsin, Sherman Phoenix, Big Brothers, Big Sisters of Racine and Kenosha Counties and the Wisconsin Economic Development Corporation.
“Milwaukee is a resilient city, but the virus has had a profound effect on our businesses, threatening livelihoods and the economic viability of our communities,” said Ossie Kendrix, Jr., President and Chief Executive Officer of the African American Chamber of Commerce of Wisconsin. “Having a locally-headquartered organization like Fiserv step up and provide access to resources is the helping hand small businesses urgently need.”
In addition to Milwaukee, Fiserv will sponsor Back2Business Grants in multiple other cities where small business communities have been heavily impacted, including New York, Miami, Atlanta, Chicago and Oakland, California.
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
About Association for Enterprise Opportunity
AEO is the leading voice of innovation for microbusiness and microfinance. We create economic opportunity for underserved entrepreneurs throughout the United States. We engineer transformational change through Research, Incubation, Convening & Advocacy to foster a robust and inclusive marketplace. For more information, visit aeoworks.org.
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