Through the Synchrony Foundation, the company is committed $ 5 million in support of national community organizations that help small businesses. Part of it goes Support society for local initiatives (LISC), a national community development organization, which will provide emergency grants to minority and women-owned businesses.
Synchrony will connect small businesses with resources, including expert advice on topics such as digital marketing and loyalty, in-depth research and information on market trends and how to navigate a new business environment. and constantly evolving. For Synchrony’s partners, customers and healthcare providers, the company also has tools and APIs to facilitate digital transformation.
Today, Synchrony partners with nearly one million small businesses, including those in the home, retail and automotive sectors, as well as healthcare providers – from veterinarians to dentists to doctors. With a new digital resource center called, Synchrony Connect for small businesses the company makes it easier than ever for small business owners to access the support and advice they need to recover and thrive.
“For nearly 90 years, helping America’s small businesses has been at the heart of our DNA and today we are accelerating our efforts to ensure that ‘small’ stay ‘strong’,” said Neeraj Mehta, Managing Director of Synchrony Payment Solutions. “We are heartbroken by the multiple crises that have recently hit small businesses across the country. At Synchrony, we realized that we need to do even more to support each other during this time and stand united in supporting humanity. We are proud of our heritage of equipping small business leaders with the tools they need to revitalize their recovery, build resilience and strengthen communities – especially businesses in underserved communities – through our core business and support. philanthropic. “
Provide emergency grants to vulnerable small businesses, helping to build resilience
Small businesses reflect the passion and ingenuity of millions of people. The Synchrony Foundation is committed $ 5 million to community development organizations that support small businesses and help those hard hit by the pandemic recover and rebuild. This includes a $ 2 million grant to LISC. Synchronization will engage the rest $ 3 million to local organizations to support the long-term recovery of small businesses over the next three years.
LISC will provide emergency grants of up to $ 10,000 to help small businesses, especially minority-owned businesses, women and veterans in underserved communities, meet their immediate financial needs.
The funds will also enable LISC partners with frontline experience to help small businesses build resilience and overcome the pandemic through training, resources and technical assistance, which includes sales and marketing. web and remote, social media and accounting.
Provide digital tools, support and advice that small business leaders need
Small business owners can now access Synchrony Connect for small businesses for free advice, information and best practices. Synchrony’s small business partners, customers and healthcare providers can also access powerful digital tools to help them grow, lead and operate their business.
- Advice – Small business owners can access educational resources and sharing of best practices on crisis management, website building and optimization, optimizing finances, creating more effective digital footprints and loyalty. There is also advice on how to reopen stores and offices safely when the time is right, and how to lead through tough times.
- Knowledge – Synchrony Connect for Small Business contains research-based information on consumer sentiment and trends to help small business owners and healthcare providers. In addition, Synchrony has partnered with several organizations, including the American Chamber of Commerce and PwC to create webinars on fundraising, fundraising and business management strategies in the face of adversity.
- Digital tools – Synchrony is expanding its digital capabilities, including the company’s suite of all-inclusive e-commerce tools and APIs to provide its small business customers and suppliers with a means to complete online transactions and services quickly, as well as than accelerating the innovation of digital payments. For example, CareCredit has several features that suppliers can take the opportunity to help patients pay their health care costs using their CareCredit card. Suppliers can even generate personalized QR codes for their practice that make the payment process not only transparent, but completely contactless.
These efforts further underscore Synchrony’s commitment to small businesses and complement additional relief efforts introduced earlier, such as the merchant relief and education programs.
Synchrony (NYSE: SYF) is a leading consumer financial services company. We offer a wide range of specialized financing programs, as well as innovative consumer banking products, in key industries such as digital, retail, home, automotive, travel, health and pets. company. Synchrony enables our partners to increase sales and retain consumers. We are one of the largest private label credit card issuers in United States; we also offer co-branded products, installment loans and consumer finance products for small and medium businesses and healthcare providers.
Synchronization is changing what’s possible through our digital capabilities, deep industry expertise, actionable data, seamless customer experience, and personalized financing solutions.
Farrah Aper, VP communications, Synchrony