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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

New Goldman Sachs and Bipartisan Policy Center Report Shows Action Needed to Increase Small Businesses’ Access to Capital

As Paycheck Protection Program funds end, small businesses need more capital; Black-owned small businesses face larger hurdles than their white peers in accessing capital

NEW YORK–(BUSINESS WIRE)–A new report released today by Goldman Sachs 10,000 Small Businesses Voices in conjunction with the Bipartisan Policy Center shows the strain small business owners across the country are feeling as federal Paycheck Protection Program (PPP) funding is depleted. The report offers urgently needed policy solutions to put main street businesses back on the road to recovery.

In June, 82% of small business owners in a Goldman Sachs 10,000 Small Businesses Voices survey said their PPP funds would run out by the end of July. Yet just 24% said they were confident they could maintain payroll after depletion of PPP funds. Many small businesses say they are in a precarious position: emergency assistance is dwindling, and debt needs to be repaid—yet revenues have not fully recovered. For those seeking new sources of credit, pandemic disruptions are hindering their ability to secure financing.

The report also highlights a troubling fact: Black-owned businesses have significantly more difficulty accessing capital than their white peers. While PPP was broadly effective in sustaining employment at small businesses, its design reflected underlying disparities in access to finance. Challenges faced by Black small business owners include:

  • Black-owned businesses that are low credit risks are half as likely as white-owned firms to receive all the financing they seek, found a 2021 Federal Reserve Banks Small Business Credit Survey.
  • And white-owned businesses are twice as likely to receive all financing sought even when they are medium/high credit risk.
  • Research also finds racial differences in the decision to apply. Black small business owners with high credit scores are more than twice as likely to report a fear of denial than white founders with below median credit.

“As July comes to a close, small businesses across America face a grim reality: their Paycheck Protection Program funding is running dry, but our economy hasn’t fully recovered, the cost of doing business is increasing and their debts are coming due,” said Joe Wall, national director of the Goldman Sachs 10,000 Small Business Voices program. “Together with the Bipartisan Policy Center, our policy recommendations will help ensure a main street recovery continues.”

Policy actions recommended in the report include:

  • Create a long-term, low-interest loan guarantee program to provide flexible, patient credit to allow small businesses to rebuild balance sheets as they restore revenues.
  • Direct the Small Business Administration (SBA) to re-evaluate policies regarding financial performance in previous years to account for the impact of 2020 on small business balance sheets.
  • Make SBA subordination agreements as easy as possible regarding Economic Injury Disaster Loans (EIDL).
  • Consider actions that will expand the lender base in government guarantee programs.
  • Strengthen the capacity of CDFIs to distribute more small business credit in their target communities.
  • Prioritize small business financing as federal, state, and local governments distribute American Rescue Plan relief funds.

“Many American small businesses are still struggling to recover from the pandemic. Federal relief programs were crucial in helping them stay afloat,” said Dane Stangler, Director of Strategic Initiatives at the Bipartisan Policy Center. “Now, new actions are needed to help expand access to the credit they will need to invest and create jobs for their communities.”

The full report with detailed policy recommendations for increasing small business access to capital can be found here.

ABOUT 10,000 SMALL BUSINESSES VOICES

Goldman Sachs 10,000 Small Businesses Voices is an initiative for program participants to organize and advocate for policies that matter to them. It builds on Goldman Sachs 10,000 Small Businesses, which over the past decade has provided access to education, capital, and support services to more than 10,000 small business owners across all 50 states, Puerto Rico, and Washington D.C.

Contacts

Abbey Collins, Goldman Sachs, 212-902-5400