Progressive Insurance, Hello Alice Now Accepting Applications for $1 Million Grant Program for Small Business Owners

MAYFIELD VILLAGE, Ohio, May 7 -- Progressive Insurance issued the following news release on May 6, 2024:

Progressive Insurance(R), the leading commercial auto insurer in the United States, today announced that applications are now open for the brand's Driving Small Business Forward grant in support of small business owners. Each of the 20 recipients selected will be awarded a $50,000 grant to use toward the purchase of a commercial vehicle for their business.

The U.S. Chamber of Commerce reports that nearly 69% of small business owners rely on their personal savings to fund their businesses and receive limited access to capital. Progressive is committed to uplifting entrepreneurs and providing access to funding and resources needed to succeed through the Driving Small Business Forward program.

"As a purpose-led company, Progressive is committed to empowering small business owners on their entrepreneurial journey and to alleviate economic barriers," said Karen Bailo, Commercial Lines President at Progressive Insurance. "By the conclusion of this year's program, we will have awarded over $1.5 million in grants to entrepreneurs across the country and we're excited about the impact we've had in helping these businesses move forward."

To administer the grant program, Progressive is working with Hello Alice, the financial technology organization helping over one million small businesses access capital.

In addition to receiving a grant toward their business, recipients will have the opportunity to participate in Boost Camp, a business coaching program from Hello Alice that instills repeatable annual frameworks that focus on core concepts for business growth including financial budgeting and forecasting, funding and pitch strategies, sales and customer acquisition.

Eligible applicants can sign up for a free Hello Alice account to complete the online application.

To qualify for this program, entrants must be the leading executive of a small business with 10 or fewer employees and less than $5M in annual gross revenue with a demonstrated need for a qualifying commercial vehicle and business coaching. The deadline for applications is June 14, 2024, at 6:00 p.m. ET. Applications will be reviewed by a committee according to the criteria outlined in the terms and conditions. Recipients will be notified via email and publicly announced in August. For full eligibility requirements, including restricted businesses, see the Terms & Conditions.

To apply and learn more about the program, visit https://helloalice.com/grants/progressive.

* No purchase necessary. Open to legal residents of the U.S. and D.C. 18+.

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About Progressive

Progressive Insurance(R) makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it's most convenient for them -- online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price(R), Snapshot(R), and HomeQuote Explorer(R).

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

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About Hello Alice

Hello Alice is a fintech platform connecting 1.5 million small businesses to capital, connections and opportunities.

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Original text here: https://progressive.mediaroom.com/news-releases/?item=122518