Hiscox Pledges $2 Million to Support the Small Business Community
Hiscox has pledged $2 million to support small businesses now, when it is most needed. The support is made through the Hiscox Foundation USA, a non-profit corporation which supports social and humanitarian initiatives, and will go to established organizations that are providing support to businesses in the wake of COVID-19.
Hiscox is providing $1,000,000 of funding to business organizations across the US, including:
- Accion, which provides capital, coaching and connections to entrepreneurs;
- Women’s Business Development Center, which offers technical assistance and financial advisory services, including microlending, to women and underserved communities;
- Women’s Business Enterprise Council – West, which serves established businesses by providing networking, programming, and financial consulting services.
Hiscox also has made a $500,000 contribution to Kiva USA, a lending specialist that crowdfunds loans for the underserved, improves the quality and cost of financial services, and addresses barriers to financial access around the world. Kiva USA, a national partner of the Hiscox Foundation USA, will use the contribution to expand its operations to process the significant increase in demand on their services as a result of COVID-19.
In addition to the donations to business organizations and Kiva USA, Hiscox is setting aside $500,000 for programs that will inspire its employees to get involved with charitable efforts in their local communities.
- Each US regional office of Hiscox will be given a contribution to either continue its relationships with existing charitable partners or select new ones in light of the impact of COVID-19. The level of funding from last year will be doubled for each regional office in the US.
- Hiscox is also offering a 90-day “Double Match” Matching Gift program for US employees who donate to a non-profit organization. Hiscox will “match” at least $100 for qualifying non-profit organizations of the employee’s choice, regardless of the amount of the employee’s contribution.
Supporting the communities Hiscox serves and the areas it operates in has always been important to Hiscox. As a Group, Hiscox has pledged over $4 million to support the global response to COVID-19, which includes these measures announced in the US. Hiscox’s contribution is broadly divided into three parts; supporting our existing charity partners and specific vulnerable groups affected by this crisis, improving access to SME services at a time when they are most needed, and giving our employees the means to support small businesses in their local area.
If you think your business could benefit from assistance from Kiva, begin an application here.
The Hiscox Foundation USA supports non-profit, community-based charitable organizations. Given the Foundation’s grant selection process is employee driven, the Foundation does not accept external requests for contributions
The Hiscox Foundation USA is an Illinois not-for-profit corporation that is a Section 501(c)(3) charitable organization under the Internal Revenue Code. Hiscox Foundation USA supports a range of social and humanitarian initiatives that are funded by an annual donation from Hiscox USA. The Foundation focuses on supporting unaffiliated charities, such as those identified above, that aid and improve education, science, advancement of the arts and culture, children’s rights and that provide services to disadvantaged and vulnerable members of society.