Large corporations like PayPal, Nextdoor, and Heinz can make a major impact by supporting small business grant programs. This week, all of these companies announced new funding rounds to support underserved businesses. Read about these small business grant programs and more in the list below.
Venmo Small Business Grant
PayPal just announced the second iteration of its Venmo Small Business Grant. This funding round will provide grants of $10,000 to 20 small businesses along with mentorship that covers various topics, from financial analysis to digital marketing. The grant program will prioritize supporting businesses in under-represented communities, providing practical support to help accelerate the growth of small businesses. Aside from that, businesses must set up a Venmo business profile to qualify. The online application portal is open now through August 7.
Nextdoor Kind Foundation Keep It Local Business Fund
The Nextdoor Kind Foundation recently began accepting applications for the Keep It Local Business Fund, its small business microgrant program. The foundation is partnering with the NAACP and Hello Alice to fund and facilitate the program, which offers $5,000 microgrants to entrepreneurs of color. The program initially launched earlier this year and has already provided more than $100,000 in grants to small businesses. In addition, to grant funds, the organization is also providing extra resources to recipients, like free advertising on Nextdoor and access to business training. The online application portal is open now through September 4.
Heinz Black Kitchen Initiative
The Heinz brand is supporting Black-owned food businesses through a new grant program. The company is partnering with the Lee Initiative and Southern Restaurants for Racial Justice to fund and facilitate the program. Heinz is pledging $1 million to the program, bringing the company’s total contribution up to $3 million over the last three years. During this funding round, up to 60 eligible businesses will receive grants of up to $25,000. The online application portal is open now through July 31.
Buffalo American Rescue Plan Act Grants
Buffalo, New York, recently allocated $3.5 million of its American Rescue Plan Act funding to a small business grant program. Eligible businesses that experienced financial harm due to the pandemic will have the opportunity to apply for grants of between $5,000 and $50,000. The grant program was just recently approved by the Buffalo Common Council, so details are still being worked out.
Vermont Business Emergency Grant Assistance Program
Vermont is about to unveil its new Business Emergency Grant Assistance Program to support businesses and nonprofits affected by recent flooding. The Department of Economic Development is facilitating the $20 million program, which will offer grants to cover up to 20 percent of a business’s documented damage. The maximum grant amount is $20,000. But those that experienced more than $1 million in damage may exceed that cap. Additionally, $1 million will be set aside specifically to support agricultural businesses. The state plans to release more details about the program on July 31 and open the application portal later that week.
Small Business Deals
Opelika Chamber of Commerce Small Business Grant Program
The Opelika Chamber of Commerce in Alabama is now accepting applications for its Small Business Grant Program. Eligible businesses can apply for grants of up to $5,000. About 80 percent of the funds will be reserved for existing businesses, and 20 percent will be reserved for startups. To qualify, businesses must be licensed in the city of Opelika, have ten or fewer full-time-equivalent employees, demonstrate a need for funding, and have not received a grant through this program in the past 12 months. The application deadline for this funding round is August 18.
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