Small businesses are vital to a healthy economy and thriving communities, and through Venmo Small Business Grant funding and support can be provided to help them build resilience, grow and succeed.
PayPal’s new grant program for emerging small businesses, the Venmo Small Business Grant will provide $10,000 grants, mentorship services, and additional benefits to 20 Venmo Business Profile users. The cash covers various expenses, from rent to digital marketing.
- Businesses must have less than $50,000 in annual revenue and ten or fewer employees.
- Applicants must also have an active Venmo Business Profile. However, there’s still time to sign up for one before the application period closes. The program is open to new users who sign up during the application window.
- In addition to the qualifications for applicants, the Venmo Small Business Grant will apply equal opportunity judging criteria to support underrepresented entrepreneurs. Specifically, the program hopes to award some grants to Black, Latinx, and women entrepreneurs, though these are not prerequisites for applying.
Eligible businesses who are selected for the program receive:
- $10,000 grant
- Professional consulting and mentorship services
- Access to business resources from Venmo and PayPal
- Public promotion on the Venmo and PayPal websites and social media accounts
- Mentorship and consulting services will cover an array of topics, from legal services to financial analysis. Paypal is partnering with a variety of organizations to facilitate these benefits inclusive of Start Small, Think Big and Taproot Foundation.
- PayPal and Venmo employees will also provide mentoring, coaching, and select pro bono services. Many other offerings will focus on cash flow and functions related to payments.
Interested? Apply for the Venmo Small Business Grant by first setting up a Venmo Business Profile