10 recipients will receive funds to use towards the purchase of a commercial vehicle for their business
MAYFIELD VILLAGE, Ohio, August 15, 2023 /PRNewswire/ — Progressive insurance®the leading commercial automobile insurer in the UNITED STATES, announced the 10 recipients of its Driving Small Business Forward 2023 grant with Hello Alice in support of black entrepreneurs. Each small business owner received a $25,000 grant to use toward the purchase of a commercial vehicle for their business.
While 20% of Black Americans start a business, only 4% of Black American businesses survive the startup phase, as they disproportionately struggle with debt and raising capital, in addition to challenges such as lack of connections useful in the business world, according to McKinsey & Company. Progressive steps in to provide financing to Black entrepreneurs to help them navigate their small business journey.
“At Progressive, we celebrate all business owners, but we understand that Black business owners still face unique challenges,” said Karen Bailo, president of commercial insurance at Progressive Insurance. “For the past two years, the Driving Small Business Forward grant program has been one of the ways we have supported entrepreneurs on their small business journey, and we look forward to seeing how this grant will help these deserving recipients continue their work in service of the community. “.
The full list of Driving Small Business Forward 2023 grant program recipients includes:
- Derald GrayOwner of DG Visionaries In Indianapolis, IN
- Elizabeth AbunawOwner of Forty Acre Fresh Market In Chicago, IL
- Theodore SmithOwner of Golf for excellence In Washington, D.C.
- Mouna MohamedOwner of Kalsoni In Minneapolis, Minnesota
- Shenicia Barnes, owner of Kidz on Wheelz LLC In Mansfield, TX
- Sean MorrisonOwner of Lets Ryde NC In Raleigh, North Carolina
- Carmel MimsOwner of Pet Carrier buddies In Pasadena, California
- Robert RandolphOwner of Rob Ran Creative Services In Milwaukee, Wisconsin
- Dr. Alécia Gabriel/Deirdre Robersonco-owners of The laboratory drawer In Detroit, Michigan
- Kamilah MossOwner of Tidy Pets Pooper Scooper In Fort Lauderdale, Florida
The winners were selected, in part, because of their strong applications, demonstrating their company’s impact on the local community. Elizabeth AbunawOwner of Forty Acre Fresh Market In Chicago, ILoffers healthy, affordable food accessible to everyone through a citywide delivery service, pop-up produce markets in community spaces, and a physical store on standby.
“I founded Forty Acres Fresh Market after witnessing the vast disparity in resources and infrastructure within predominantly black communities,” said Elizabeth Abunaw. “My vision was to provide convenient, healthy shopping options and increase equity and access to healthy food in areas that need it. »
Another applicant, Shenicia Barnes, owner of Kidz on Wheelz LLC In Mansfield, TXhas developed a door-to-door transportation service for children aged 4 to 18 to help parents by providing safe and reliable transportation.
“Having been raised by a single parent, I knew the challenges of not having access to transportation to school or extracurricular activities,” said Shenicia Barnes. “I launched a childcare and home transport service to help local mums transport their children to and from school and offer support to single parents.”
To administer the grant program, Progressive worked with a business accelerator Hello Alicethe financial technology organization that helps more than a million small businesses access capital.
“Hello Alice is fighting for financial fairness among small businesses and we are impressed by the hard work and passion shown by entrepreneurs across the country. We are proud to partner with Progressive and support small businesses owned by Black people. These businesses are essential to our economy. and the future of our country. “Hello Alice Founder and CEO Carolyn Rodz.
To learn more about each recipient, visit https://helloalice.com/grants/progressive/.
In addition to advancing small businesses Grant ProgramEarlier this year, Progressive announced that its commercial insurance business was extending financial support to entrepreneurs with Hello Alice.
Progressive contributes $100,000 throughout 2023 to the Hello Alice Small Business Growth Fund, managed by Hello Alice in cooperation with the Global Entrepreneurship Network. This fund provides financial support to business owners from all backgrounds through grants of varying amounts awarded by the fund three times per year.
Progressive insurance® makes it easy to understand, purchase and use car insurance, Home Insurance, and other protection needs. Progressive provides choices so consumers can reach us in the way that works best for them — online at progressive.comby phone at 1-800-PROGRESSIVE, via the Progressive mobile app or in person with a local agent.
Progressive provides insurance for personal and commercial automobiles and trucks, motorcycles, boats, recreational vehicles and homes; it is the second largest auto insurer in the country, one of the leading sellers of commercial car, motorbikeAnd boat insurance and one of the top 15 home insurance companies.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price.®instant®and HomeQuote Explorer®.
The common stock of The Progressive Corporation, the Village of Mayfield, Ohio-market-based holding company, publicly traded on the NYSE: RPG.
About Hello Alice
Hello Alice, a financial technology organization that provides credit, loans and grants, is a free platform serving over 1 million small business owners around the world. UNITED STATES. Committed to equitable access to capital for the new majority (women, people of color, members of the LGBTQ+ community, veterans and entrepreneurs with disabilities), Hello Alice offers financing, education, tools and organized opportunities. Working with enterprise sales departments, ecosystem partners, affiliates and government agencies, Hello Alice provides its growing community with everything they need to grow their business. Hello Alice serves a diverse community of business owners across the country. About 68% of owners are BIPOC, 63% are women, and 17% are affiliated with the military. For small business owners interested in joining the Hello Alice community, they can sign up for free at www.helloalice.com. To learn more, visit www.helloalice.comas well as Twitter, LinkedIn, InstagramAnd Facebook.
SOURCE Progressive Insurance