PayPal made a significant announcement in 2020, stating their commitment to provide $535 million in grants and funds to support Black-owned businesses and community organizations. The company planned to allocate $15 million of this amount specifically for grants to 1,400 Black-owned businesses, while $100 million would go to venture funds led by Black and Latinx founders. PayPal also planned to provide $200 million to community banks and credit unions.


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