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Business Owners across the U.S. Receive Grants, Coaching, and Personalized Training

PURCHASE, N.Y., Sept. 22, 2023 /PRNewswire/ — The PepsiCo Foundation is excited to announce the expansion of the Impacto Hispanic Business Accelerator Program by welcoming 100 new grantees. Launched in 2020 with 150 grantees to-date, this program aims to empower Hispanic food and beverage entrepreneurs by providing them with the necessary skills and resources to take their businesses to new heights. In collaboration with Accion Opportunity Fund, Allies for Community Business, LiftFund, and Prospera, these exceptional individuals will receive $10,000 grants after completing six weeks of intensive training and coaching. Additionally, they will join the esteemed PepsiCo Foundation Impacto Network.

The Impacto Hispanic Business Accelerator Program is designed to address the unique challenges faced by Hispanic entrepreneurs and create an environment where they can flourish and drive positive change in their communities. Through strategic partnerships with local nonprofits, this transformative initiative offers invaluable support and knowledge to grantees to elevate their businesses and achieve sustainable growth. This year’s cohort consists of a diverse group of passionate and innovative individuals who share the common goal of making a difference in the Hispanic business community. They were selected based on their exceptional dedication throughout the training and coaching process and will join the existing 150 members of the Impacto Network across the country.

The current economic climate, coupled with long-standing systemic barriers, has posed significant challenges for the Hispanic community. The Impacto Hispanic Business Accelerator Program aims to help these entrepreneurs navigate these hurdles, beat the odds that small businesses face, and ensure the continued success of their establishments. President of the PepsiCo Foundation, C.D. Glin, expressed his delight in congratulating the 100 entrepreneurs who successfully completed the 2023 Impacto Hispanic Business Accelerator Program. He emphasized the Foundation’s commitment to supporting these businesses and their efforts to not only keep their doors open but also to thrive and create lasting benefits for their families and communities.

The Impacto Hispanic Business Accelerator Program is an essential component of PepsiCo’s Racial Equality Journey, which was announced in 2020. As part of this journey, PepsiCo committed over $570 million over five years to increase representation at the managerial level, uplift diverse voices, and create economic opportunities in underserved communities. In line with this commitment, the Juntos Crecemos platform was launched in August 2021 specifically to strengthen Hispanic-owned establishments such as restaurants, bodegas, and carnicer├¡as. The platform offers a range of programs and support, including the recently-launched Greenhouse Accelerator Program: Juntos Crecemos Edition. The PepsiCo Foundation is honored to collaborate with partners like Accion Opportunity Fund and believes that this collaboration will help underinvested entrepreneurs gain access to the resources they need to grow their businesses, support their families, and contribute to thriving communities.

The PepsiCo Foundation and its partners will continue to support the Impacto grantees on their entrepreneurial journey by providing ongoing mentorship, access to resources, and opportunities for collaboration with like-minded individuals. This network of Impacto grantees reaffirms the PepsiCo Foundation’s commitment to fostering economic growth and social progress for Hispanic entrepreneurs. To learn more about the program and the inspiring stories of each of the 100 grantees from the 2023 class, please visit the provided link.

The PepsiCo Foundation, as the philanthropic arm of PepsiCo, is dedicated to investing in the essential elements of a sustainable food system and supporting thriving communities. By collaborating with nonprofits and experts worldwide, the Foundation focuses on assisting communities in obtaining access to food security, safe water, and economic opportunity. Through strategic collaborations with industry peers and organizations, the PepsiCo Foundation aims to create tangible and impactful change on global issues. For more information about the PepsiCo Foundation, please visit www.pepsicofoundation.com.

About Accion Opportunity Fund:
Accion Opportunity Fund works tirelessly to create an inclusive and healthy financial system that supports small business owners across the nation. Their comprehensive approach connects entrepreneurs to affordable capital, educational resources, coaching, and networks. By forming innovative partnerships and implementing outreach strategies, Accion Opportunity Fund aims to reach entrepreneurs of color, low-income entrepreneurs, and women who often lack access to the financial services essential for business growth. California Finance Lenders License Number 6050609.

About Allies for Community Business:
Allies for Community Business (A4CB) firmly believes that entrepreneurs from all backgrounds can start and grow businesses that create generational wealth for their families and communities. A4CB’s mission is to provide capital, coaching, and connections to entrepreneurs, enabling them to build successful businesses that generate jobs and wealth. As a nonprofit Community Development Financial Institution situated on Chicago’s West Side, A4CB prioritizes Hispanic/Latinx, Black, women, and low-income entrepreneurs throughout the Chicagoland area and beyond. To learn more, visit www.a4cb.org.

About LiftFund:
LiftFund, a nonprofit small business lender, is dedicated to transforming lives by opening doors, leveling the financial playing field, and building a community of shared success through entrepreneurship. Established in 1994 in San Antonio, Texas, LiftFund provides capital, financial coaching, tools, and resources to entrepreneurs who lack access to loans from traditional sources. Over the years, LiftFund has provided access to nearly $1 billion in capital and over 26,400 loans to diverse business owners spanning its 15-state footprint. For more information, follow LiftFund on social media @LiftFundUS and visit www.LiftFund.com.

About Prospera:
Prospera is a nonprofit economic development organization that has been specializing in providing bilingual assistance to Hispanic entrepreneurs since 1991. Their services support small business owners in starting, sustaining, and growing their businesses. In the past five years alone, Prospera facilitated over $70 million in loans for small business clients. They have also trained 17,300 entrepreneurs and helped consulting clients create or retain over 16,000 jobs. Prospera currently operates in Florida, North Carolina, and Georgia. For more information, visit www.prosperausa.org.

SOURCE PepsiCo Foundation

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