U.S. business owners receive grants, coaching and personalized training
PURCHASE, NY, September 22, 2023 /PRNewswire/ — The PepsiCo Foundation is delighted to welcome 100 new scholarship holders to the Impacto Hispanic Business Accelerator program. Established in 2020 with 150 beneficiaries to date, the program aims to give Hispanic food and beverage entrepreneurs the skills and resources to take their businesses to new heights. After six weeks of intensive training and coaching, in partnership with Accion Opportunity Fund, Allies for Community Business, Lift Fund And Prosperitythese exceptional personalities will receive 10,000 dollars grants in addition to joining the Impacto network of the PepsiCo Foundation.
Impacto Hispanic Business Accelerator
The PepsiCo Foundation’s Impacto Hispanic Business Accelerator program aims to address the unique challenges faced by Hispanic entrepreneurs and provide them with a platform to thrive and create lasting change in their communities. This transformational initiative, in partnership with local nonprofit organizations, aims to provide beneficiaries with invaluable support and knowledge to grow their businesses and achieve sustainable growth.
This year’s cohort represents a diverse group of passionate and innovative individuals, all driven by the common goal of making a difference in the Hispanic business community. They were selected for their exceptional dedication and hard work throughout the training and coaching process, and they join the 150 members of the Impacto network across the country.
“Unfortunately, the Hispanic community has long faced systemic barriers to success that are only amplified by current economic challenges like inflation and labor shortages. That’s why we are so excited to congratulate the 100 talented entrepreneurs who have completed the Impacto 2023 Hispanic Business Accelerator Program. Our goal is to help these restaurants and food service businesses navigate an ever-changing economy, to overcome the challenges small businesses face and keep their doors open and their businesses thriving,” said PepsiCo Foundation President CD Glin. “At the PepsiCo Foundation, we are inspired by passion, resilience and the dedication of these Hispanic business owners, and we are excited to see how their businesses continue to thrive and how their collective efforts create lasting benefits for their families and communities across the country.”
The Impacto Hispanic Business Accelerator is a key part ofPepsiCo’s racial equality journey, announced in 2020 with the company’s announcement of commitments of more than $570 million over five years to increase representation at the executive level to reflect the workforce availability of the communities in which we operate, to stimulate business and elevate diverse voices throughout our value chain, and to help create economic opportunities in underserved communities. As part of this journey, PepsiCo launched the multi-faceted program Juntos Crecemos platform in August 2021 aimed at strengthening Hispanic-owned restaurants, bodegas and carnicerías (meat markets), addressing fundamental business challenges and supporting business growth. THE Juntos Crecemos The platform includes the Hispanic Digital & Delivery program, Bodega and Carnicería Essentials and the recently launched Greenhouse Accelerator program: Juntos Crecemos Edition.
“We are honored to collaborate with the PepsiCo Foundation to implement the Impacto Hispanic Business Accelerator program,” said Luz Urrutia, CEO of Accion Opportunity Fund. “For nearly 30 years, AOF has been committed to helping underinvested entrepreneurs access the resources they need to grow their businesses, provide for their families and contribute to thriving communities. Business owners graduating from Impacto this year have a big accomplishment to celebrate. , and we look forward to continuing to support their entrepreneurial journeys.
The PepsiCo Foundation and its partners will continue to support these beneficiaries on their journey, providing ongoing mentorship, access to resources and opportunities to collaborate with like-minded individuals. Impacto’s grantee network demonstrates the PepsiCo Foundation’s commitment to driving economic growth and social progress for Hispanic entrepreneurs.
To learn more about the program and learn more about each of the 100 scholarship recipients in the Class of 2023, please Click here.
About the PepsiCo Foundation
The PepsiCo Foundation, the philanthropic arm of PepsiCo, invests in the essential elements of a sustainable food system with a mission to support thriving communities. Working with nonprofits and experts around the world, we work to help communities access food security, clean water, and economic opportunity. We strive to achieve tangible impact in the places we live and work, collaborating with our industry peers, local and international organizations and our employees to drive large-scale change on the issues we care about and which are of global importance. Learn more about www.pepsicofoundation.com.
About the Accion Opportunities Fund
Accion Opportunity Fund aims to create an inclusive and healthy financial system that supports the nation’s small business owners by connecting entrepreneurs to affordable capital, educational resources, mentoring and networks. Through innovative partnerships and outreach strategies, we reach entrepreneurs of color, low-income entrepreneurs, and women, who often lack access to the financial services they need to start and grow their businesses. Loans provided by Accion Opportunity Fund Community Development. California Finance Lenders license number 6050609.
About Allies for Community Business
Allies for Community Business (A4CB) believes that entrepreneurs from all backgrounds can create and grow businesses that create generational wealth for their families and communities. A4CB’s mission is to provide the capital, mentoring and connections entrepreneurs need to grow great businesses that create jobs and wealth in their communities. As a non-profit community development financial institution located on that of Chicago West Side, A4CB prioritizes Hispanic/Latinx, Black, women, and low-income entrepreneurs throughout the Chicago region and beyond. Learn more about a4cb.org.
About LiftFund
LiftFund, a nonprofit small business lender, transforms lives by opening doors, leveling the financial playing field, and building a community of shared success through entrepreneurship. Founded in 1994 in San Antonio, TX, LiftFund provides capital, financial coaching, tools and resources to entrepreneurs who do not have access to loans from commercial sources. Since its creation, LiftFund has provided access to nearly 1 billion dollars in capital and more than 26,400 loans to diverse business owners throughout its 15 states. For more information, follow LiftFund on social media @LiftFundUS and visit www.LiftFund.com.
About Prospera
Prospera is a nonprofit economic development organization specializing since 1991 in providing bilingual assistance to Hispanic entrepreneurs who want to start, maintain and grow their businesses. In the last five years alone, Prospera has facilitated more than $70 million in small business loans, trained 17,300 entrepreneurs and helped consulting clients create or retain more than 16,000 jobs. Prospera currently serves Florida, North CarolinaAnd Georgia. For more information, visit www.prosperausa.org.
SOURCE PepsiCo Foundation
