Anne-Marie Saint-John, Alva, Long Island City, NY >
To celebrate the Hispanic community and ensure that the businesses that play a fundamental role in shaping our society continue to thrive and grow, The PepsiCo Foundation is launching a new program to support Hispanic-owned small food & beverage businesses.
Hispanic-owned food & beverage small businesses can apply for funding, and free business coaching in English and Spanish. The program is designed to help business owners at every level retain employees and construct long-term business plans to support their economic recovery and set them on the path to generational wealth.
The program will provide $10,000 grants to 150 Hispanic-owned food and beverage businesses. Eligible businesses must have earned less than $1 million in 2020 and be located in New York City, Miami, Orlando, Los Angeles, Dallas, Houston, San Antonio, Chicago, Denver, El Paso, Phoenix, Albuquerque, or Las Vegas. Grant applications will be accepted through June 25.
Hispanic-owned food and beverage small businesses have been instrumental in shaping the way we shop, connect across communities and enjoy food and drinks. Many of these businesses, especially small businesses, play a central role in connecting and uplifting the community that goes far beyond economic impact. Hispanic owned small businesses like bodegas, restaurants and food trucks help create generational wealth, foster family legacies and serve as cultural safe spaces that bind community members together. Yet systemic disparities have long made it harder for Hispanic business owners to accumulate wealth to build and grow their businesses. COVID-19 has only exacerbated this issue – nearly 90% of Hispanic business owners reported financial distress as a result of the pandemic, a rate higher than other ethnic groups.