Press release
PayPal Announces Recipients of $5 Million Community Partner Grants to Support and Sustain Black Businesses and Communities
SAN JOSE, Calif., Sept. 24, 2020 /PRNewswire/ -- PayPal Holdings, Inc. today named 20 nonprofit community partners that will receive grants and contributions
About this update from Paypal Holdings, Inc.
[{"type":"text","content":"SAN JOSE, Calif., Sept. 24, 2020 /PRNewswire/ -- PayPal Holdings, Inc. today named 20 nonprofit community partners that will receive grants and contributions totaling $5 million to support Black-owned businesses across the U.S. in their recovery from the impact of the COVID-19 pandemic. The grants are part of PayPal's $530 million commitment announced in June to support Black-owned businesses, strengthen minority communities and fight for racial equity and economic equality. \n\"The COVID-19 pandemic has put enormous pressure on small businesses, and has been especially devastating for Black-owned businesses and communities,\" said Dan Schulman, president and CEO, PayPal. \"To rebuild and succeed over the long-term, it's important for these businesses to have a strong ecosystem of support. Through our grants to effective community nonprofits, PayPal is working to support and strengthen Black-owned businesses and catalyze the critical work these organizations are doing to sustain Black-owned businesses and communities now and in the future.\"\nThe nonprofit organizations receiving PayPal partner grants are located in communities across the country and offer a variety of services and supports for Black-owned businesses – from lending to technical assistance to leadership development:\n· 1863 Ventures (Washington)\n· Association for Enterprise Opportunity (Washington)\n· African American Alliance of CDFI CEOs (National)\n· Baltimore Business Lending (Baltimore)\n· Black Girl Ventures (Philadelphia)\n· Chicago Neighborhood Initiatives Micro Finance Group (Chicago)\n· EnrichHER (Atlanta)\n· Expanding Black Business Credit Initiative (National)\n· Grameen America (New York)\n· Kiva (San Francisco)\n· MORTAR (Cincinnati)\n· Nebraska Enterprise Fund (Omaha, Neb.)\n· Neighborhood Development Center (Minneapolis and St. Paul, Minn.)\n· Operation HOPE (Atlanta)\n· Opportunity Fund (San Jose, Calif.)\n· Rising Tide Capital (Jersey City, N.J.)\n· Russell Center for Innovation & Entrepreneurship (Atlanta)\n· Start Small, Think Big (New York)\n· Walker's Legacy (Washington)\n· Women's Opportunity Resource Center (Philadelphia)\nAs part of this partnership initiative, PayPal employee volunteers will work with these nonprofit community partners to advance PayPal's mission. In addition, the company will match $2 for every $1 employees donate and ...