2nd Buy Now, Shop Later Match Met!
Corning, N.Y. - The second cycle of match funds has been completed for Corning's Gaffer District's Buy Now, Shop Later (BNSL) program, bringing the total investment to $300,000 as of today.
BNSL was launched on March 18 to rapidly infuse cash into Gaffer District businesses during the coronavirus shutdown which is creating devastating and unprecedented uncertainty and financial insecurity for small businesses.
On April 7, Corning Enterprises announced it would match directly to businesses all BNSL purchases up to a total of $100,000 -- which happened within three days. Then on April 10, Corning Credit Union put in another $50,000 of matching funds. That match was completed on Easter Sunday, April 12.
"Knowing that our community provided another $50,000 to small businesses in just the past two days is amazing and we're delighted we were able to match this generosity," said Gary Grinnell, Corning Credit Union President & CEO. "Once again, our community has proven that we really are all stronger together."
"We're actively seeking another donor to keep this amazing program going," said Coleen Fabrizi, executive director of Corning's Gaffer District. "We can't overstate how much this money means to our small businesses (81 participating businesses) in the Gaffer District. It could be the difference between surviving and closing their doors for many."
According to Fabrizi, all monies donated to the BNSL fund are used to make matching payments to businesses based on gift card/certificate sales. As long as matching funds are available, for every dollar purchased, the business receives a dollar. For instance, a $20 customer purchase brings the business $40. With or without matching funds, Fabrizi said the program will continue until further notice.
Customers can purchase gift cards or certificates from participating businesses at the Gaffer District's website: gafferdistrict.com/buy-now-shop-later.