The Visa Foundation has launched a new grant program allocating $2 million to support entrepreneurial support organizations (ESOs) in the United States. These organizations provide essential training, mentorship, and funding to small business owners, helping them navigate challenges such as limited access to capital and rising operational costs.
The foundation plans to select up to 12 eligible 501(c)(3) organizations to receive grants ranging from $100,000 to $250,000. Selection criteria will be based on the scope and impact of the applicants' work in fostering small business success. Applications for the program are currently open.
Visa highlights that small and medium-sized enterprises account for over 98% of businesses in the U.S. While these firms face growth barriers, they also demonstrate an ability to pivot quickly. The initiative aims to help these businesses adopt new technologies, including artificial intelligence, to remain competitive in the current economy.
