American Express and Main Street America Partner for Second Year to Offer Financial Support to Economically Vulnerable U.S. Small Business Owners
NEW YORK, NY. – March 20, 2023 – American Express (NYSE: AXP) today launched the second year of the Backing Small Businesses grant program* in partnership with Main Street America. This year, American Express is increasing the number of grants awarded and total funding to more than $2.3 million to further support U.S. small business owners in addressing critical needs.
Starting today, eligible business owners can apply for $5,000 grants to cover costs, such as marketing expenses, capital improvements, and physical and technological upgrades.
American Express, Main Street America, and select community partners will select 350 grantees, who will be announced in June 2023, and prioritize candidates that have the potential to improve, revitalize or expand an existing small business in older and historic downtowns and neighborhood commercial districts nationwide.
In the fall of this year, 25 of the grantees will also receive additional enhancement grants of $25,000 to fund innovative revitalization projects such as business expansion, capital improvements, or investment in technology that would further improve their businesses, while providing goods or services that address cultural, environmental, and/or access needs in their local community.
“We are proud to work alongside Main Street America to support small business owners as they navigate current economic challenges.” said Alice Lin Fabiano, Vice President, Community Impact at American Express. “Small business owners are at the heart of local communities, and since the launch of our grant program in 2021, it has been inspiring to see the positive impact they have made in communities across the country.”
American Express and Main Street America created a small business grant program in 2021 to support U.S. small business owners as they recovered from the COVID-19 pandemic and looked to grow their businesses. To date, the program has provided $1.65 million in grants to 330 small business owners nationwide.
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