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$2 Million in New Grants Aimed for LGBTQ+-owned and Ally Restaurants

National LGBT Chamber of Commerce Teams Up with Grubhub To Offer String-Free Funds for Struggling Restaurants Impacted by Covid

WASHINGTON and CHICAGO, Sept. 22, 2021 /PRNewswire/ — America’s vulnerable LGBTQ+-owned restaurants and bars serving food will find a vital lifeline this fall stemming from the partnership formed by the National LGBT Chamber of Commerce (NGLCC) and Grubhub. These small business owners have been among hardest hit by Covid impact with loss of jobs and income over the past two years.

Grubhub, a leading U.S. food-ordering and delivery marketplace, and the National LGBT Chamber of Commerce (NGLCC), the business voice of the LGBTQ+ community and certifying body for LGBTQ+-owned businesses nationwide, have opened applications for their NGLCC/Grubhub Community Impact Grant Program. The grants are expected to range from $5,000 to $100,000.

“We often say at NGLCC that ‘If you can buy it, an LGBTQ+-owned business can supply it.’ That is especially true of the LGBTQ+-owned restaurants across America who kept our communities and first responders fed throughout the pandemic. We’re proud to partner with Grubhub in offering these grants to support these businesses throughout the nation. America’s 1.4 million LGBTQ+-owned business owners have shown incredible resilience during the COVID-19 pandemic, and now, in turn, we can help them recover stronger than ever,” said NGLCC Co-Founder and President Justin Nelson.

Throughout June, NGLCC was named the official partner of Grubhub’s Donate the Change program, which has raised tens of millions of dollars for organizations in need since launching in late 2018. The partnership welcomed Grubhub and Seamless diners to opt-in, round up their order total, and donate the difference, with the company matching eligible donations from Grubhub+ members. The proceeds raised will now be made available through NGLCC to support the LGBTQ+ community and LGBTQ+-owned restaurants.

“As the world starts to return to a new normal, we know many businesses are rebuilding and reopening, especially LGBTQ+-owned restaurants that are often the pillars of their communities,” said Kevin Kearns, senior vice president of restaurants at Grubhub. “We’re thrilled to partner with NGLCC and give back to the LGBTQ+ community – one that has shown incredible strength and support for those in need throughout the pandemic.”

Under the innovative grant program, the NGLCC has set a goal to allocate 30 percent of the funds to businesses owned by people of color and transgender/gender non-conforming individuals.

Restaurants wishing to apply for grants should visit www.nglcc.org/ghgrant

NGLCC and its partners will expertly evaluate applications after the October 12, 2021 closing date. Major grantees will be awarded onstage during the NGLCC Back To Business (B2B) Summit in Hollywood, Florida this November, as well as in local communities.

The NGLCC’s network of more than fifty Affiliate Chambers across America will help amplify this grant opportunity to support local restaurants. Those local chambers will also benefit from this initiative’s newly established “Affiliate Chamber Fund.” This fund will enable any establishment that receives a Community Impact Grant Program that is not currently a member of an NGLCC local affiliate chamber to have one year of membership paid. Additionally, many of NGLCC’s more than 300 corporate partners enhanced their Pride 2021 programming with food orders from Grubhub during their programming with Employee Resource Groups and community partners – a best practice expected to continue throughout future Pride celebrations.

For more information on the Community Impact Grant Program regarding restaurant eligibility requirements, timelines, how to apply, and more, please visit www.nglcc.org/ghgrant.

Contact: press@nglcc.org

About NGLCC
The National LGBT Chamber of Commerce (NGLCC) is the business voice of the LGBT community and is the largest global advocacy organization specifically dedicated to expanding economic opportunities and advancements for LGBT people. NGLCC is the exclusive certification body for LGBT-owned businesses, known as Certified LGBT Business Enterprise® (Certified LGBTBE®) suppliers.
www.nglcc.org @nglcc

About Grubhub
Grubhub is part of Just Eat Takeaway.com (LSE: JET, AMS: TKWY, NASDAQ: GRUB), a leading global online food delivery marketplace. Dedicated to connecting more than 33 million diners with the food they love from their favorite local restaurants, Grubhub elevates food ordering through innovative restaurant technology, easy-to-use platforms and an improved delivery experience. Grubhub features more than 300,000 restaurant partners in over 4,000 U.S. cities.

SOURCE National LGBT Chamber of Commerce

Introducing Square Banking, a Suite of Powerful Financial Tools for Small Businesses

Payments and banking products work seamlessly together, providing sellers with a robust solution to manage cash flow

SAN FRANCISCO–(BUSINESS WIRE)–Today, Square launches Square Banking, a suite of financial products purpose-built to help small business owners easily manage their cash flow and get more out of their hard-earned money. Coming on the heels of Square’s industrial bank, Square Financial Services, beginning operations in March, Square Banking represents a major milestone in Square’s continued efforts to expand access to financial tools for underbanked populations and marks the beginnings of the company’s journey to provide more banking solutions to small businesses.

“Small businesses are the heartbeat of our communities and our economy. From our earliest days, Square has focused on building easy-to-use tools and services to empower entrepreneurs to succeed on their own terms,” said Christina Riechers, Square Banking’s Head of Product. “Historically, small businesses have had to contend with numerous hurdles while trying to access vital financial services that are often readily available to larger companies. With Square Banking, we’ve reimagined the financial system for small business owners with their cash flow needs at the center. We’re introducing fair, accessible financial services that connect directly with our sellers’ payments, helping them unlock instant access to their sales, automate their savings, and receive personalized financing offerings.”

Square Banking consists of three core products designed to help small business owners confidently manage cash flow stress: two new deposit accounts, Square Savings and Square Checking, join Square’s existing lending capability, now called Square Loans. By offering essential banking tools that work seamlessly with Square’s ecosystem of solutions like payments and Square Payroll, sellers now have a single home for their entire business, gaining a unified view of their payments, account balances, expenditures, and financing options.

Square Savings: Automated Preparation for the Future

Small business owners recognize the value of setting aside funds, but the day-to-day challenges they face trying to manage their cash flow can make it difficult to build up a cash buffer. Square Savings, powered by Square Financial Services, offers small business owners a simpler way to start or continue building up their cash reserves.

With automated savings, Square Savings removes the friction from setting aside funds, enabling sellers to effortlessly save a percentage of every Square sale they make. To better help businesses organize their savings, Square Savings also offers customizable folders that sellers can use to save for specific goals and priorities, like purchasing new equipment or paying quarterly tax obligations. These FDIC-insured accounts offer a 0.5% annual percentage yield1, and have no minimum deposits, balance requirements, or account fees.

“Cash flow is always top of mind as a small business owner, but one of the big learnings from the last year and a half is how important it is to think about my finances in the longer term, whether that’s a few weeks from now or a few months,” said Susan Kinser, owner of Troy, Ohio-based Wagmore Pet Salon. “Square Savings is great because in the background, it’s helping me prepare for the future, while leaving me free to focus on the day-to-day needs of my business.”

Square Checking: A Home for Business Finances, Connected to Payments

Since Square first introduced the Square Debit Card, adoption has increased every quarter as more sellers seek a way to decouple their personal and business finances and immediately access and spend their earned funds. In 2020, the number of active Square Card sellers increased 140% year over year, and the total balance stored by these sellers increased 250% in the same time period. Square Checking builds off the company’s existing business banking tools, and in partnership with Sutton Bank, offers sellers an FDIC-insured business checking account that provides instant access to card sales they process via Square.

With Square Checking, Sellers can immediately spend their funds with their Square Debit Card, send and receive money via ACH with new account and routing numbers, or use their balance to pay their teams with Square Payroll. Square Checking has no account minimums, overdraft fees, or recurring fees, and sellers are able to instantly move funds between their Square Savings and Square Checking accounts whenever they need to, at no cost. Soon, sellers will also be able to deposit checks via the Square Point of Sale app, helping them further consolidate business funds into one place.

Square Loans: Personalized Financing Based on Sales, Not Credit History

Financing is critical for small businesses looking to grow or gain better control over their cash flow, and yet, according to the Federal Reserve, fewer than half of small businesses report that their credit needs are met. Since beginning operations, Square Capital – now Square Loans – has facilitated more than $9 billion in small business loans and Paycheck Protection Program loans to more than 460,000 Square sellers, with an average loan size of $6,750. These numbers highlight Square’s ability to reach and serve small businesses that have been traditionally underserved by existing lending options.

Square Loans continues to give sellers increased access to credit with proactive loan offers that are uniquely tailored to their business needs and can be automatically repaid through a percentage of their daily Square sales. Soon, sellers will also be able to instantly access their Square Loan from their Square Checking account once they are approved for a loan.

“There are so many unseen challenges that come with starting and running a small business, and the ability to easily access fair financing is a big one,” said Charlene Ruell, the owner of Vancouver, Washington-based handmade accessories provider Panache. “The idea of shopping around for a business loan was intimidating, given my concerns around my personal credit and the fact that I run a relatively small operation. The personalized financing options I’ve received from Square Loans have not only helped me invest in key equipment and inventory, but it also reinforced my conviction that my business has staying power.”

For more information on Square Banking, please visit squareup.com/banking

About Square, Inc.

Square, Inc. (NYSE: SQ) builds tools to empower businesses and individuals to participate in the economy. Sellers use Square to reach buyers online and in person, manage their business, and access financing. Square, Inc. has offices in the United States, Canada, Japan, Australia, Ireland, Spain, Norway, and the UK.

1For Savings accounts, annual percentage yield (APY) of 0.50% or more will apply until 12/31/2021, after which the APY in effect at that time will apply and will be subject to change.

All Square Loan numbers reflect metrics through March 31, 2021.

Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc., All loans and savings accounts are issued by Square Financial Services, Inc., a Utah-Chartered Industrial Bank. Member FDIC. All loans are subject to credit approval. Square Checking is provided by Sutton Bank, member FDIC. Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated, and may be used wherever Mastercard is accepted. Funds generated through Square’s payment processing services are generally available in the Square checking account balance immediately after a payment is processed. Fund availability times may vary due to technical issues. Checking and Savings accounts are FDIC-insured up to $250,000.

Contacts

Media Contact

press@squareup.com