A Cincinnati nonprofit that serves as a resource for urban entrepreneurs has received a grant from PayPal, part of the digital payment provider’s commitment to support Black-owned businesses across the U.S. amid the Covid-19 pandemic.
Over-the-Rhine’s Mortar is one of 20 nationwide recipients for a community partner grant, the Silicon Valley payments giant announced last week. PayPal earmarked a total of $5 million in funds for Black-owned businesses recovering from the pandemic. The grants are part a $530 million commitment to strengthen minority communities and fight for racial equity and economic equality, according to a release.
Covid-19 has put “enormous pressure on small businesses,” Dan Schulman, president and CEO of PayPal, said in a statement. It has been especially devastating for Black-owned businesses and communities, he said.
“To rebuild and succeed over the long-term, it’s important for these businesses to have a strong ecosystem of support,” Schulman said.
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