In 2021, Mercado on 5th was awarded a $50,000 grant from U.S. Bank Foundation to expand its educational programming through the Creciendo Juntos/Growing Together program. The six-year-old nonprofit in Moline’s Floreciente neighborhood was one of 20 recipients of the one-time 2021 U.S. Bank Foundation Market Impact Fund grant. Since Mercado began in 2016, the organization has served as a platform for more than 130 small businesses and nonprofits.
The 2021 Market Impact application process was held by invitation with a focus on Emerging Leaders, which was defined as directors with less than three years in their position. Preference was given to women, minorities, and those under 40. Anamaria Rocha, who was hired as Mercado’s director in March 2021, was featured as one of U.S. Bank’s 20 Emerging Leaders.
For the past several years, Mercado has been a driving force behind the development of an inclusive entrepreneurial ecosystem in the Quad Cities. A key driver has been its deep understanding that a large percentage of the microenterprises who participate at Mercado on Fifth’s summer open air market and the aspiring micro-business owners who wish to participate, have limited knowledge on where to start. The U.S. Bank Foundation Market Impact Fund grant enabled Mercado to maintain its commitment to providing 1-on-1 technical assistance and mentorship to these individuals.
The framework for the Creciendo Juntos program also leveraged Mercado’s successful award to the Department of Commerce and Economic Empowerment Community Navigator Program. The goal of these public/private collaborations is to integrate minority and immigrant entrepreneurs' needs into the business community, thus reducing the barriers to start and grow their businesses. This system has greatly improved accessibility to specifically Spanish-speaking entrepreneurs by providing a much-needed boost at the initial stage of the startup process.
The educational workshops held through Creciendo Juntos attracted 50 individuals that included 9 new aspiring business owners and 1 aspiring non-profit entity. Mercado was also able to provide educational information and materials and by way of its 1:1 session, assisted with social media best practices by separating two existing business owners personal Facebook pages and assisted with the creation of dedicated business pages. Mercado also assisted with Google business listing registration, business email set-up, improved access to the Food Protection Manager Study Guide with the purchase of guides through the grant and made several referrals for further assistance with State and local registration licensing requirements from local agencies.
As Mercado on Fifth continues to grow, its efforts to strengthen its partnerships have bolstered increased awareness to the needs of the minority business community, primarily the Hispanic business community. Community attraction and support has also helped boost sales for participating vendors. During its fifth season, Mercado also saw record breaking growth with a 48% increase in attendance and a 95% increase in vendor sales. It also saw a 72% increase in reach on social media, a 175% increase in net followers and a 213% increase in website visits with an overall pageview growth of 244% in comparison to 2020. Mercado continues to build equity in the community and remains committed to serving as a resource for assistance, education, and support to the Hispanic community.