On August 13, Finance firm Fiserv and the Brooklyn Chamber of Commerce awarded Brooklyn Tea, Daddy Greens Pizza and Brown Butter Bakery $10,000, as a part of a grant program to help women- and minority- owned businesses stay afloat during the pandemic, Brooklyn Paper reports.
Many small businesses have taken a hit to their finances due to low foot traffic, and about 30 percent of minority- or women-owned businesses say they may not survive next month.
"It is really an honor to be recognized," said Jamila McGill, a co-owner of Brooklyn Tea. "Because of the impact of COVID, there are multiple ways that this grant is going to be used. It's going to help us sustain our staff; it's going to help sustain our inventory; it helps us better serve our customers."
There are plans to expand the grant program to $10 million across the nation. It launched last week in Kings County because of the devastation the pandemic has brought to Brooklyn's economy.
"I saw that the streets of Brooklyn got pretty pounded, both from COVID, and the after-effects of COVID," said Fiserv CEO Frank Bisignano, a Mill Basin native. "I watched all zip codes, I analyzed all the data, and I thought the recovery of Brooklyn is one of the most important recoveries in the country."
Small business across New York City continue to be affected by the downturn down in finances. Some have predicted that about one-third of mom and pop stores will be closing by the end of the pandemic.