NEW YORK--(BUSINESS WIRE)--MetLife Foundation today announced that it is providing $4 million in grants to support COVID-19 relief efforts for low-income people and small businesses across the United States. The grants complete MetLife Foundation’s $25 million commitment to the global response to COVID-19 and underscore its ongoing commitment to helping underserved communities.
“The pandemic has compounded housing and food insecurity in our communities and continues to have an outsized impact on small businesses,” said Mike Zarcone, head of Corporate Affairs and Sustainability for MetLife and Chairman of MetLife Foundation. “These grants will provide relief to people and businesses that need help the most during these challenging times.”
MetLife Foundation is providing the following grants:
- $375,000 to Breaking Ground and $375,000 to the YMCA of Greater New York, to address the impact of COVID-19 on homelessness in New York City through local outreach, transitional housing, and critical social services.
- $1.25 million of total support to food banks in communities where MetLife has a significant presence in New York, New Jersey, Rhode Island, North Carolina, Nebraska, Illinois, Florida, Ohio, and Missouri. Additionally, MetLife Foundation will match MetLife employee contributions to food banks through the end of 2020.
- $2 million to the Local Initiatives Support Corporation (LISC) in support of small businesses. These funds will be directed to business development organizations across multiple markets, with a focus on minority and women-owned businesses in historically underinvested communities that need operational support.
On top of the MetLife Foundation donation to LISC, MetLife is providing the organization a $10 million loan as part of its impact investing program. The funds will be used to support affordable housing and other economic development activities in low-income and racially and ethnically diverse communities.
About MetLife Foundation
At MetLife Foundation, we are committed to expanding opportunities for low- and moderate-income people around the world. We partner with nonprofit organizations and social enterprises to create financial health solutions and build stronger communities, while engaging MetLife employee volunteers to help drive impact. MetLife Foundation was established in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. From its founding through the end of 2019, MetLife Foundation provided more than $860 million in grants and $85 million in program-related investments to make a positive impact in the communities where MetLife operates. Our financial health work has reached more than 13.4 million low- and moderate-income individuals in 42 countries. To learn more about MetLife Foundation, visit metlife.org.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.