Fifth Third Foundation Announces Recipients of $1.2 Million in Grants for Black, Woman-Owned Businesses
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In a statement, Stefanie Steward-Young, the chief corporate social responsibility officer at Fifth Third Bank, said that Black-owned business owners often face challenges securing capital to start and maintain their business. Grants for Black, woman-owned businesses were made available through Innovation Meets Main Street Program.
The COVID-19 crisis is hitting the Black-owned small business community extremely hard. According to a statement released by Fifth Third Foundation, studies show that 41% of Black-owned businesses have been shuttered during the pandemic. On the upside, the Fifth Third Foundation recently announced the recipients of $1.2 million in grants for Black, woman-owned businesses, in addition to the organizations that serve them through the Innovation Meets Main Street program, which seeks to boost Black, women-owned businesses as announced in September 2020
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