Google.org announced a $3M grant to Hispanics in Philanthropy’s PowerUp Fund, in partnership with Ureeka, to directly support hundreds of Latino-owned small businesses across California, New York, and Texas—states with large numbers of Latino-owned small businesses—with access to capital and the training they need to successfully leverage that capital to overcome the economic downturn and continue to grow.
Latinos are 1.5 times more likely than the general population to start a business, yet as COVID-19 continues to disrupt the US economy, the impact on the Latino small business community is glaring. A recent study from the National Bureau of Economic Research found that 32% of Latino-owned businesses have been forced to close in recent months, and even more Latino-owned small businesses remain disproportionately at risk, given their overrepresentation in sectors hardest hit by the economic downturn. READ MORE AT GLOBALNEWSWIRE
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