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FedEx Awards More Than $250,000 to Winners of the Ninth Annual FedEx Small Business Grant Contest

Press release content from Business Wire. The AP news staff was not involved in its creation. FedEx Awards More Than $250,000 to Winners of the Ninth Annual FedEx Small Business Grant Contest May 10, 2021 GMT MEMPHIS, Tenn. (BUSINESS WIRE) May 10, 2021 FedEx Corp. (NYSE: FDX) announced today that Equine Amnio Solutions – a Texas based veterinary pharmaceutical company, is the grand prize winner of its ninth annual FedEx Small Business Grant Contest. Equine Amnio Solutions (EAS) will receive a $50,000 grant, plus $7,500 in FedEx Office ® print and business services to use in the company’s mission to provide innovative products to maximize the health and performance of horses across all breeds and athletic disciplines.

SOAR Fund offers low-interest loans, free business support

May 10, 2021 Small businesses and nonprofits across Delaware can now get low-interest loans of up to $100,000 and free business support from the Southern Opportunity and Resilience Fund as they work to recover from the pandemic. Companies and agencies across Delaware can begin applying for very low-interest loans of up to $100,000 and free business support through the SOAR Fund, a new program created by a diverse group of community lenders aimed at helping small businesses and nonprofits navigate and rebuild from the COVID-19 health and economic crisis. According to the U.S. Census Bureau Small Business Pulse Survey, 47 percent of Delaware small businesses have less than two months’ cash on hand, and one-third of small businesses in the state expect to seek capital in the next six months.

American Express puts $40M into fund to help minority-owned small businesses recover

© Getty Images American Express is putting $40 million into a fund that will provide loans and other resources to underfunded small-business owners in the U.S., with a focus on minority-owned companies. The loans, ranging from $5,000 to $100,000, depending on business’ needs, started going out this week, CNBC reported. The average amount of the loans is expected to be approximately $28,000, according to CNBC, citing forecasts from the fund. ADVERTISEMENT American Express announced the program with Accion Opportunity Fund last month, with a stated goal of accelerating small business growth and “building a more equitable financial system. The fund will focus on historically underfunded small-business owners, such as people of color, women and immigrants.

American Express Puts $40 Million Into a Fund to Provide Loans to Small Business Owners of Color

Our intention is to look at underfunded small businesses that are really looking to get stronger, to reopen, to stabilize and grow in 2021 and beyond, Luz Urrutia, CEO of the Accion Opportunity Fund, told CNBC. [Businesses] we know are trying to invest, buy inventory, perhaps pivot and they need reasonable terms and credit to get back on their feet. To qualify for the loans with 12 to 60 month terms, an applicant must be in business for 12 months, have proof of $50,000 in revenue per year and own at least 20% of the business. Applicants with low FICO credit scores will be considered, but their credit rating will be a factor in determining the loan s interest rate, which can range from 5.99% to 25.99%.

Cisco Foundation Commits $100 Million for Climate Projects and Technology

Cisco Foundation Commits $100 Million for Climate Projects and Technology David McNew, Getty Images The Cisco Foundation money will help nonprofits that use technology to promote community carbon reduction, climate resilience, green jobs, and education and activism on climate change. Here are notable new grant awards compiled by the Chronicle: Cisco Foundation $100 million over 10 years to make grants and impact investments to nonprofit groups that are using technology to combat climate change and promote community education, carbon reduction, climate resilience, green jobs, and activism. American Express $40 million to the Accion Opportunity Fund, a nonprofit community-development financial institution, to offer loans and other resources to small-business owners in the United States, with a focus on Black entrepreneurs.

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