About This Grant
Hello Alice is excited to work with Progressive to allow Black small business owners to drive their businesses forward. As the No. 1 commercial auto insurer*, Progressive understands small businesses and is committed to providing solutions to help meet their needs. According to the Census Bureau**, there are more than 2 million Black-owned businesses across the United States, yet 44% of Black business owners use their cash to start their ventures due to receiving less business financing, less often, and at higher rates.
Progressive would like to support these business owners with funds to take their businesses to the next level. The Driving Small Business Forward fund will provide $25,000 to 10 small businesses to purchase a commercial vehicle to accelerate their business.
To be eligible, a business must be majority (51%+) owned and operated by a Black-identifying entrepreneur(s), have a demonstrated need for a commercial vehicle, commitment to the local community and a clear plan to keep their business moving forward.
Applications are open now through June 2, 2023.
To access the grant information and application, you must sign up for a free account with Hello Alice.
How You Can Use the Funds
- The funds are to be used to buy a new commercial vehicle for business purposes.
- Share your business information.
- Tell the origin story of your business and where you're headed.
- Explain how you will maximize $2K grant towards the purchase of a commercial vehicle to meet your next milestone.
- Share what obstacles or challenges have you faced in purchasing either your first or an additional commercial vehicle for your business.
- Explain what ways do you and your business support your customers and community.
- Share what makes you proud of your business and what you consider your biggest accomplishment.
- Be a for-profit business that is majority (51%+) owned and operated by a Black-identifying entrepreneur(s);
- Have 10 or less employees;
- Have less than $5M in annual gross revenue;
- Have a demonstrated need for a qualifying commercial vehicle to run your business; AND
- Have a clear plan for growth as a result of this vehicle purchase.
- Heavy trucks with Gross Vehicle Mass (GVM) over 26,000 lbs. and vehicles designed principally for use off public roads (e.g. bulldozers, farm machinery, forklifts, etc.) are not considered qualifying commercial vehicles for this program.
- Businesses may not be an independent contractor whose primary business is for a rideshare service such as Uber or Lyft, or third-party food delivery such as UberEats, DoorDash, PostMates, Grubhub, Instacart, etc.
- An entrepreneur who is the leading executive (i.e. Founder and/or President, CEO, CFO, COO, or any such other similar title) of a business that meets the below business criteria;
- A legal resident of the fifty United States and the District of Columbia; excluding US Territories.
- Eighteen (18) years of age or older (19 in AL and NE).
- Officer(s) may not be a Progressive Insurance employee or an immediate family member of a Progressive Insurance employee or independent agents who sell Progressive Insurance, or a Hello Alice employee.