10 recipients will receive funds to use toward
the purchase of a commercial vehicle for their business
VILLAGE, Ohio, May 4, 2023
/PRNewswire/ -- Progressive Insurance®, the leading
commercial auto insurer in the United
States, today announced they are taking applications for the
brand's Driving Business Forward grant program in support of Black
entrepreneurs. Each of the 10 small business owners selected will
be awarded a $25,000 grant to use
toward the purchase of a commercial vehicle for their business.
While 20 percent of Black Americans start businesses, only four
percent of these businesses survive the startup stage due in large
part to the difficulty Black business owners have in accessing
financing, according to McKinsey & Company. With the
Driving Business Forward grant program, Progressive is extending
support to help close these gaps for Black entrepreneurs and
elevate their businesses.
To administer the grant program, Progressive is working with
Hello Alice, the financial technology organization helping over one
million small businesses access capital.
"At Progressive we recognize the challenges that small business
owners are faced with each and every day," said Karen Bailo, Commercial Lines President at
Progressive Insurance. "Our hope is this program will provide some
assistance to Black entrepreneurs as they navigate their small
business journey and help them combat any barriers."
Progressive and Hello Alice remain committed to investing in
inclusive entrepreneurship, so all Americans with an
entrepreneurial spirit can access the funding, tools, and resources
they need to succeed.
"We are so excited to work with Progressive again this year and
host the Driving Small Business Forward Grant Program," said Elizabeth Gore, Co-founder and President of
Hello Alice. "Recipients will be able to drive their business
forward with the capital needed to purchase a commercial
Applications are now open for one of 10, $25,000 grants to be used toward the purchase of
a commercial vehicle. Those eligible will need to sign up for a
free Hello Alice account and complete their application. The
deadline for applications is June 2,
2023, at 6 p.m. ET.
Applications will be reviewed by a committee according to the
criteria outlined in the terms and conditions. Recipients will be
notified via email and publicly announced in August. For full
eligibility requirements, including restricted businesses, see the
Terms & Conditions.
To apply and learn more about the program, visit
Progressive originally launched this program in 2022,
aiming to support diverse small business owners across the country,
and awarded 10 Hispanic business owners each with a $25,000 grant to help propel their small
business. The brand is continuing to expand opportunities for small
businesses through the support of the Hello Alice Small Business
Growth Fund, which awards grants to small business owners of all
backgrounds and ethnicities. Inclusive of the 2023 program,
Progressive has committed a total of $600,000 towards small businesses in partnership
with Hello Alice.
Progressive Insurance® makes it easy to understand,
buy and use car insurance, home insurance, and other
protection needs. Progressive offers choices so consumers can reach
us however it's most convenient for them — online at
progressive.com, by phone at 1-800-PROGRESSIVE, via the
Progressive mobile app, or in-person with a local agent.
Progressive provides insurance for personal and commercial autos
and trucks, motorcycles, boats, recreational vehicles, and homes;
it is one of the leading sellers of personal
and commercial auto, motorcycle, and boat insurance
in the country, and one of the top 15 homeowners insurance
Founded in 1937, Progressive continues its long history of
offering shopping tools and services that save customers time and
money, like Name Your Price®, Snapshot®, and
The Common Shares of The Progressive Corporation, the
Mayfield Village, Ohio-based
holding company, trade publicly at NYSE: PGR.
About Hello Alice
Hello Alice, a fintech providing
credit, loans and grants, is a free platform serving more than one
million small business owners across the
United States. Committed to equitable access to capital for
the New Majority - women, people of color, members of the LGBTQ+
community, veterans, and entrepreneurs with disabilities, Hello
Alice offers funding, education, tools, and curated opportunities.
Working with enterprise business services, ecosystem partners,
affiliates, and government agencies, Hello Alice provides its
growing community with everything they need to grow their
businesses. Hello Alice serves a diverse community of business
owners across the country. Approximately 68% of owners are BIPOC,
63% are female, and 17% are military-affiliated. For small business
owners interested in joining the Hello Alice community, they can
sign up for free at www.helloalice.com. To learn more,
visit www.helloalice.com, as well
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SOURCE Progressive Insurance