As part of its programming for Asian and Pacific Islander Heritage Month, Meta will be partnering with US Bank to provide API businesses with new financial support pathways. Under this new program, Meta and US Bank will provide a range of financial literacy resources and dedicated programming to support Asian small businesses.
As per US Bank:
“US Bank is excited to partner with Meta Prosper to offer additional financial resources to support Asian-owned small businesses. We know that many small businesses face prominent gaps, including access to information, connections, and capital. We are focused on providing our tools and resources to help these Asian small business owners so they can grow and thrive.”
Meta Savings
The partnership will see Meta act as some sort of conduit between API businesses and these assistance tools, which will help connect US Bank with thousands of API-owned SMBs through Meta’s expansive network. Asian American-owned businesses were among the hardest hit during the pandemic. Since then, Meta has been working to provide extra assistance and support, where possible, to help these businesses bounce back.
This continues to be an ongoing process, and initiatives like this are key to facilitating growth and recovery for organizations like these. And it’s not only Meta – other platforms also have their own set of initiatives to provide what assistance they can for businesses heavily impacted by the pandemic.
There’s no quick fix, and it’ll take years for some to get back their profit after COVID. But Meta, which is used by some 200 million SMBs, can and does play a key role in connecting the dots and getting businesses the recovery assistance that they need. Granted, not even large companies easily recovered from the havoc caused by the pandemic; some continue to recover to this day.
Smaller businesses have always had it tougher. Oftentimes, SMBs are less equipped and capacitated compared to larger players. This doesn’t mean that they’re inferior, but mostly that they’ll have a harder time sticking out, if not being able to play a level with the competition. Initiatives like this help somewhat close that gap, not completely, but at least enough to give smaller players a better chance.
The Wrap
It’s always nice hearing these big platforms stick up for the underdogs. The challenge and, at the same time, the goal is to come up with an equal business playing for all, which is way harder than it sounds, but is made more achievable by projects like these. You can read more details about Meta’s partnership with US Bank here.
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