Ryan Coyne’s Olympic Media To Donate Over $100,000 To Small Businesses Affected by COVID-19, Riots
ARLINGTON, VA (June 19, 2020) — As economic pain continues to spread across the United States from COVID-19 and the riots stemming from the death of George Floyd, many businesses and charitable organizations are stepping up to protect their communities. The latest of those is Olympic Media, a digital advertising agency, which announced today that it is donating over $100,000 to businesses that have been directly affected by either the coronavirus or the riots.
Speaking on Thursday, Olympic Media Founder and CEO, Ryan Coyne said, “For most entrepreneurs, the cost of these difficult times is not limited to their income statements. The cost is really their people – waiters and waitresses, truck drivers and builders, cleaners and accountants. America is the envy of the world in part because, when faced with great adversity, we unite across all colors, creeds and ideologies to overcome together. It’s a privilege to have the opportunity to help and I couldn’t be more proud of our Olympic Media team for their hard work and dedication to giving back. To those brave entrepreneurs and the millions of Americans around the country wondering how they will survive and rebuild — there is an army behind you more powerful than the obstacles ahead. Do not give up.”
The COVID-19 outbreak caused unemployment rates to rise from 3.8% in February (one of the lowest post-World War II rates on record), to 13% in May. In April, the unemployment rate peaked at over 14%. Over 30 million Americans lost their jobs due to the coronavirus pandemic, and reports indicate that as of May, COVID-19 has forced more than 100,000 small businesses to permanently close.
As states began to allow businesses to reopen, the nation watched as looters and rioters took to the streets in major cities causing further physical destruction.
A portion of the donation will be distributed through the Virginia 30 Day Fund — a non-profit organization that provides small, forgivable loans to Virginia-based businesses.
The Virginia 30 Day Fund was launched by tech entrepreneur Pete Snyder and his wife, Burson. The couple wanted to help Virginia-based businesses stay afloat as they awaited their federally-approved funding. To qualify for the forgivable loans, businesses need to meet three criteria:
- Must be a small business that employs three to 30 people;
- Must be based in Virginia and have been operating for at least one year;
- Must be owned and operated by a Virginia resident.
“Burson and I simply are overwhelmed by the kindness and generosity of Olympic Media. We are proud to have them as partners for our continued efforts at the VA 30 Day Fund. Both Ryan and Luke are tremendously talented entrepreneurs but they are even better human beings. They and their team are the very type of community-minded neighbors that you want watching your back in both good times and bad. We are grateful for their leadership and support.” said Pete Snyder, Co-Founder of the Virginia 30 Day Fund.
The program has been so successful that residents of other states, including former Governor Chris Christie and former White House Press Secretary Sarah Huckabee Sanders, have created their own 30-day funds.
“Folks like Pete and Burson Snyder exemplify why America is the greatest country on earth,” said Coyne. “They and their team continue to do amazing work and to be part of what they have built is an honor.”
Those at Olympic Media are also proud to use their work to help those in need.
“As a native Virginian, I am proud to work for a company that is so committed to giving back to the community,” said Luke Mahoney, Director of Digital Strategy for Olympic Media. “Virginians lift each other up in times of need, not for personal gain, but for the good of our commonwealth and fellow man.”