MasterCard Center for Inclusive Growth
Habitat for Humanity and MasterCard will launch an innovative pilot program that connects affordable housing and small business development.
The work / live model breaks new ground in Habitat for Humanity’s Neighborhood Revitalization Initiative by pairing its homeownership program with small business development.
In partnership with low-income families who manage home-based businesses, Habitat can build homes with functional living and business spaces, offering increased employment and income opportunities for potential homeowners.
Based on the success of an initial effort by Genesee County Habitat for Humanity, the pilot program offers Habitat affiliates that participate in the Neighborhood Revitalization Initiative an opportunity to apply for five grants that will help fund research, training and work / live builds in their own communities.
The MasterCard Center for Inclusive Growth is providing a $400,000 grant to fund the construction of Habitat homes for home-based businesses and increase the organization’s capacity to replicate the model.
“Small businesses are a key driver of economic growth and revitalization in communities,” said Eugene DeSilva, senior vice president, global small and medium enterprises, MasterCard. “Together, Habitat and MasterCard seek to expand the program and help Habitat affiliates support their communities in even more meaningful ways.”
MasterCard (NYSE: MA) is a technology company in the global payments industry.