MetLife Foundation awards $4 million in COVID-19 relief grants

MetLife Foundation awards $4 million in COVID-19 relief grants

The MetLife Foundation has announced grants totaling $4 million in support of COVID-19 relief efforts for low-income people and small businesses across the United States.

The total includes a grant of $375,000 to Breaking Ground and the YMCA of Greater New York to address the impact of the virus on the homeless in New York City through local outreach, transitional housing, and critical social services and $1.25 million in support of food banks in communities in New York, New Jersey, Rhode Island, North Carolina, Nebraska, Illinois, Florida, Ohio, and Missouri where MetLife has a significant presence. The foundation will match employee contributions to food banks through the end of the year.

In addition, the foundation awarded $2 million to the Local Initiatives Support Corporation (LISC) in support of business development organizations and initiatives in multiple markets, with a focus on minority- and women-owned businesses in historically underinvested communities. As part of its impact investing program, MetLife also is providing LISC with a $10 million loan in support of affordable housing and other economic development activities in low-income neighborhoods and communities of color.

With its latest grants, the foundation has fulfilled a $25 million commitment in support of COVID-19 response efforts it announced in April. 

"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 chair of the MetLife Foundation. "These grants will provide relief to people and businesses that need help the most during these challenging times."

(Photo credit: Food Bank of Central & Eastern North Carolina)