Business Owners across the U.S. receive
grants, coaching, and personalized training
PURCHASE, N.Y., Sept. 22,
2023 /PRNewswire/ -- The PepsiCo Foundation is
thrilled to welcome 100 new grantees to the Impacto Hispanic
Business Accelerator Program. Established in 2020 with 150 grantees
to-date, the program seeks to empower and equip Hispanic food and
beverage entrepreneurs with the skills and resources to take their
businesses to new heights. After six weeks of intensive training
and coaching, in partnership with Accion Opportunity
Fund, Allies for Community Business, LiftFund
and Prospera, these outstanding individuals will receive
$10,000 dollar grants in addition to
joining the PepsiCo Foundation Impacto Network.
The PepsiCo Foundation's Impacto Hispanic Business Accelerator
Program aims to address the unique challenges faced by Hispanic
entrepreneurs and provide them with a platform to thrive and create
lasting change in their communities. This transformative
initiative, in partnership with local nonprofits, is intended to
offer grantees invaluable support and knowledge to elevate their
businesses and achieve sustainable growth.
This year's cohort represents a diverse group of passionate and
innovative individuals, all driven by the shared goal of making a
difference in the Hispanic business community. They were selected
based on their exceptional dedication and hard work throughout the
training and coaching process, and they join the 150 members of the
Impacto Network across the country.
"Unfortunately, the Hispanic community has long faced systemic
barriers to success which are only amplified by current economic
woes like inflation and worker shortages. That's why we are so
delighted to congratulate the 100 talented entrepreneurs who have
completed the 2023 Impacto Hispanic Business Accelerator
Program. Our goal is to help these restaurants and food
service businesses navigate the ever-changing economy, beat the
odds that small businesses face, and keep their doors open and
their businesses thriving," President of the PepsiCo Foundation
C.D. Glin said. "We at the PepsiCo Foundation are inspired by the
passion, resilience, and dedication of these Hispanic business
owners, and we are excited to see how their businesses continue to
flourish and how their collective efforts create lasting benefits
for their families and communities across the country."
The Impacto Hispanic Business Accelerator is a key component of
PepsiCo's Racial Equality Journey, announced in 2020 with
the company announcing commitments of more than $570 million over
five years to increase representation at the managerial level to
reflect the workforce availability of the communities where we
operate, uplift businesses and elevate diverse voices across
our value chain, and help create economic opportunity in
underserved communities. As part of this journey, PepsiCo
launched the multi-faceted Juntos Crecemos platform in
August 2021 aimed at
strengthening Hispanic-owned restaurants, bodegas and carnicerías
(meat markets), to address foundational business challenges, and
support business growth. The Juntos Crecemos platform
includes the Hispanic Digital & Delivery Program, Bodega and
Carnicería Essentials and the recently-launched Greenhouse
Accelerator Program: Juntos Crecemos Edition.
"We are honored to collaborate with the PepsiCo Foundation to
deliver the Impacto Hispanic Business Accelerator program," said
Luz Urrutia, CEO of Accion
Opportunity Fund. "For nearly 30 years, AOF has been committed to
helping underinvested entrepreneurs gain access to the resources
they need to grow their businesses, support their families, and
contribute to thriving communities. The business owners graduating
from Impacto this year have a great achievement to celebrate, and
we look forward to continuing to support their entrepreneurial
journeys."
The PepsiCo Foundation and partners will continue to support
these grantees on their journey, offering ongoing mentorship,
access to resources, and opportunities to collaborate with
like-minded individuals. The network of Impacto grantees stands as
a testament to PepsiCo Foundation's commitment to fostering
economic growth and social progress for Hispanic entrepreneurs.
To learn more about the program and to read more about each of
the 100 grantees from the 2023 class, please click here.
About the PepsiCo Foundation
The PepsiCo Foundation, the philanthropic arm of PepsiCo, invests
in the essential elements of a sustainable food system with a
mission to support thriving communities. Working with nonprofits
and experts around the globe, we're focused on helping communities
obtain access to food security, safe water and economic
opportunity. We strive for tangible impact in the places where we
live and work—collaborating with industry peers, local and
international organizations, and our employees to affect
large-scale change on the issues that matter to us and are of
global importance. Learn more
at www.pepsicofoundation.com.
About Accion Opportunity Fund
Accion Opportunity Fund
works to create an inclusive, healthy financial system that
supports the nation's small business owners by connecting
entrepreneurs to affordable capital, educational resources,
coaching, and networks. Through innovative partnerships and
outreach strategies, we reach entrepreneurs of color, low-income
entrepreneurs, and women, who often lack access to the financial
services they need to build and grow their businesses. Loans made
by Accion Opportunity Fund Community Development. California
Finance Lenders license number 6050609.
About Allies for Community Business
Allies for
Community Business (A4CB) believes that entrepreneurs from any
background can start and grow businesses that create generational
wealth for their families and communities. A4CB's mission is to
provide the capital, coaching, and connections entrepreneurs need
to grow great businesses that create jobs and wealth in their
communities. As a nonprofit Community Development Financial
Institution located on Chicago's
West Side, A4CB prioritizes Hispanic/Latinx, Black, women, and
low-income entrepreneurs throughout the Chicagoland area and
beyond. Learn more at a4cb.org.
About LiftFund
LiftFund, a nonprofit small business
lender, transforms lives by opening doors, leveling the financial
playing field and building a community of shared success through
entrepreneurship. Founded in 1994 in San
Antonio, Texas, LiftFund provides capital, financial
coaching, tools and resources to entrepreneurs who do not have
access to loans from commercial sources. Since inception, LiftFund
has provided access to almost $1
billion in capital, and over 26,400 loans, to diverse
business owners throughout its 15-state footprint. For more
information, follow LiftFund on social media @LiftFundUS and
visit www.LiftFund.com.
About Prospera
Prospera is an economic development,
nonprofit organization that has specialized since 1991 in providing
bilingual assistance to Hispanic entrepreneurs who want to start,
sustain, and grow their business. In the last five years alone,
Prospera facilitated over $70 million
in loans for small business clients, trained 17,300 entrepreneurs,
and helped consulting clients create or retain more than 16,000
jobs. Prospera currently serves Florida, North
Carolina, and Georgia. For
more information, visit www.prosperausa.org.
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SOURCE PepsiCo Foundation