PepsiCo commits over $1 million to benefit Asian American businesses

PepsiCo and the PepsiCo Foundation have announced a commitment of over $1 million in support for Asian American community programs, citing their recognition of the adverse business and social impacts of Covid-19 on the community.

The funding, under the program “Stronger Together,” will be disbursed in partnership with the Asian American Business Development Center, the Asian American Foundation, the National Restaurant Association and the National Restaurant Association Educational Foundation (NRAEF).

“Our communities are stronger when we all stand together, and we recognize the Asian community has faced painful circumstances over the past year,” said Jon Banner, executive vice president of PepsiCo Global Communications and president of the PepsiCo Foundation. “Our goal is to uplift the community while providing access to the tools and support Asian-owned businesses are seeking.”

The company said $300,000 will go to the National Restaurant Association and the NRAEF. The funds will be used for education and training resources, along with financial assistance for Asian American-run restaurants and food service establishments.

“PepsiCo is a longstanding partner of the NRAEF, collaborating to help restaurant owners and workers access the education and training needed to thrive in our dynamic industry,” said NRAEF President Rob Gifford. “As restaurant owners get back on their feet, we’re happy to provide support and expertise to set businesses up for sustained future growth.”

The Asian American Foundation will receive $500,000 to contribute to resources that promote its mission of empowerment, advocacy and representation for the Asian American and Pacific Islander community in the United States.

The remaining $250,000 will be committed to the Asian American Business Development Center’s “Project Rebuild,” which connects small businesses to resources that increase access to capital, marketing strategies and business partnerships. Already, 400 small businesses participate in the program.