BUSINESS STRATEGY
Mercato | November 22, 2022
Mercato, the nation's leading eCommerce platform for independent grocers, has announced its new initiative to improve access to healthy foods and foster economic stability in low-income communities. Thriving Communities works with local governments, private funders and non-profits to bring more grocers onto the eGrocery platform so they can digitize their inventory, offer delivery and enable enrollment and utilization of SNAP online.Mercato, the nation's leading eCommerce platform for independent grocers, has announced its new initiative It creates what founder and CEO Bobby Brannigan calls "The Mercato Effect" whereby grocers going online provides residents access to healthy, culturally appropriate foods and the ability to redeem public/private food benefits which in turn creates more jobs, increases grocers' sales and keeps dollars circulating within the community. As the son of an independent grocer in Brooklyn, I know first-hand how critical these independent, local grocers are to the economic and social well-being of their communities," said Brannigan. "They are the lifeline for so many residents to get fresh, healthy, culturally relevant foods without having to travel far or wait weeks to go to the market. By giving local grocers the tools and technologies to operate online, they can increase their own revenue and fuel healthier ecosystems throughout the country. New York City was the first city to partner with Mercato, leveraging Thriving Communities to test a technological pilot that offered subsidized groceries to a cohort of New Yorkers.
"The pandemic challenged food security in unprecedented ways, Mercato's innovative work piloting online grocery benefits making healthy, affordable groceries accessible to all New Yorkers, no matter where they live. New York City is proud to innovate with technology and public benefits, and we are thrilled that Mercato recognizes this too."
Kate MacKenzie, executive director, New York City Mayor's Office of Food Policy.
Getting onto the Mercato platform was game-changing for our store and our shoppers," said Gustavo Rodriguez of Key Food Stadium, located in the Bronx. "Our sales are increasing literally every day, especially fresh produce, and the technology and service Mercato provides enables us to fulfill orders seamlessly and with the same personal attention and care that our shoppers need and deserve. It feels incredible to be feeding and helping low-income residents in our community." Mercato is looking to expand Thriving Communities by finding and collaborating with partners in other cities including Chicago, Boston, Baltimore, Philadelphia and Los Angeles.
About Mercato
Mercato is an eCommerce and local delivery platform that provides thousands of independent grocers across the country with the tools and technologies they need to stay competitive in the marketplace. Headquartered in San Diego, CA, it was founded by Bobby Brannigan, the son of a neighborhood grocer in Brooklyn, who saw his father needed to modernize his inventory and delivery systems to stay in business and better serve his shoppers. Since launching in 2015 Mercato has brought more than 1,500 stores across the country onto the platform.
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MARKETING AND NETWORKING
ERC Digital | November 30, 2022
ERC Digital, the service empowering small businesses to receive United States government tax incentives, has launched after teaming with a Big Four accounting firm to bring industry-leading tax knowledge to the ERC process. ERC Digital is the only organization of its kind to do so, as well as collaborate with IRS technology partner Tax Status, furthering its mission to bring small businesses the same opportunities and resources as large corporations. Originally created as part of the CARES Act in 2020, the Employee Retention Credit (ERC) was part of the initiatives to encourage sustained employment and small business support. For qualified employers, the ERC provides up to $26,000 in tax credit refunds per employee. Unfortunately, many small businesses have yet to take advantage of this program due to the complexity of the filing process. The ERC Digital service simplifies the process of getting employers tax relief. Through deep expertise across key areas including how to navigate government processes, improving regulated filing efficiencies and now, the addition of partners and technology utilizations that provide deep industry knowledge, ERC Digital is helping advocate for small businesses across the country.
"Small businesses are the backbone of our economy. Now, more than ever, they deserve to get the money that is available to them and benefit from industry-leading expertise like that provided by a Big Four accounting firm, With ERC Digital, small businesses have a streamlined path to checking eligibility, preparing their ERC filings, and tracking the filing all through a transparent and efficient process."
Michael Coghlan, Co-CEO of ERC Digital
We believe in the importance of small businesses and making sure they have every advantage available to them to get the full refunds they deserve through the Employee Retention Credit," said Chuck Hayes, Senior Vice President at Tax Status.We're proud to contribute our expertise and insight to ERC Digital and help make claiming ERC easier and more transparent for businesses everywhere.
About ERC Digital:
ERC Digital is a product of Global Government Partners, a collaboration between industry experts in helping small businesses navigate government process and technology experts with deep background in simplifying regulated industry filings.
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MARKETING AND NETWORKING
Cross River | November 28, 2022
Cross River Bank (Cross River), a technology infrastructure provider that offers embedded financial solutions, today announced that along with the Brooklyn Chamber of Commerce, it has distributed $1,000-$5,000 grants to support the revitalization and recovery of local small businesses who have experienced post-pandemic challenges.
“Partnering with the Chamber has provided Cross River the opportunity to bring truly impactful philanthropy to the Brooklyn community and directly effectuate the expansion of financial inclusion among diverse communities,We are proud of the difference these funds make in the survival of these businesses and look forward to providing many more minority and women-owned small businesses with the financial support they need and deserve.”
Eugene Shvartsman, Head of Government Affairs at Cross River and Brooklyn Alliance Capital Board Member.
The grants are part of the Small Business Grant Program, a collaboration between Cross River and the Chamber, that provides financial support to minority and women-owned businesses. The program is funded by Cross River and applications are processed through the Chamber’s economic development arm, Brooklyn Alliance Capital. The Brooklyn Chamber’s partnership with Cross River on the small business grant program is truly one of the most impactful initiatives we have undertaken to help our businesses recover,” said Randy Peers, President and CEO of the Brooklyn Chamber of Commerce. “These grants go to small businesses that couldn’t access other means of support, the majority of which are minority or women-owned. On November 14th, representatives from Cross River were joined by Stevenson Joseph, Director of the Brooklyn Alliance Capital Lending Program, Matt Caserta, VP of Small Business Support at the Brooklyn Chamber of Commerce, and Luc Saint-Preux, Director of Neighborhood Outreach at the Brooklyn Chamber of Commerce for the grant distribution. Made in advance of Small Business Saturday, the most recent round of funding illustrates Cross River’s commitment to supporting small businesses and expanding financial inclusion. The Brooklyn Chamber Orchestra is committed bringing music to this generation of classical music lovers and the development of the next,” said Phil Nuzzo, Artistic Director of the Brooklyn Chamber Orchestra. “Partnering with Cross River and the Brooklyn Chamber of Commerce helps us to further our children's programming to bring classical music to future generations in underserved communities.Funds of $5,000 were distributed to the Brooklyn Chamber Orchestra in Brooklyn Heights, an organization created to enrich and inspire through music, community engagement and education, and Rash nightclub in Bushwick, a LGBTQ+-friendly establishment that was the site of an arson attack only months after opening, while patrons were inside. Top Tech Electronics in Ridgewood Heights, a store for purchasing or repairing electronic devices, received a $1,000 grant as part of an effort to serve more businesses located on Knickerbocker Ave. As a business that was only 6 months old when we had to shut our doors after a targeted arson attack, we’ve spent the rest of the year scrambling to find financing to reopen,” said Jake Sillen Owner of Rash. “Many of the traditional channels of grants and loans in the city weren’t available to us because we didn’t have years of tax returns to refer to. The money will go towards replacing our service equipment that was damaged in the fire. As a lifelong resident of NYC and first-time business owner, I’m so grateful to groups like Cross River who are providing capital to entrepreneurs in tough situations like ours.”
About Cross River
Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, lending and crypto solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC.
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