ST. LOUIS — American Express Co. (NYSE: AXP) will be giving out 75 grants of $5,000 each as part of its “Services That Back Us” grant program to support small businesses in the personal services industry.
The grant is the latest in a series of private-sector grant projects for small businesses as federal Covid-19 relief programs have largely dried up and questions remain if more government programs will launch to assist businesses that are still struggling from challenges associated with the pandemic.
The American Express grants, in partnership with Main Street America, can be used for physical and digital improvements, new equipment, technology and training to support the recovery and growth of the business.
The hope is that the grants help businesses stay open and allow them to grow through the next phase of the pandemic, said Colleen Taylor, president of merchant services U.S., for American Express.
“Local salons, barbershops, tailors, dry cleaners and more are at the center of our communities, making up our daily routines and helping us put our best foot forward,” Taylor said in a press release. “They rely heavily on in-person customers and have been incredibly innovative in adapting and re-adapting their businesses since the onset of the pandemic. Even so, the constant ebb and flow of foot traffic has continued to be a source of economic hardship as new Covid variants have emerged.”
Small-business owners who own personal service businesses can learn more and apply for the grant program here. Applications will be accepted beginning on February 15, 2022, through March 1, 2022.
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