Augusta Business Daily hopes that some of our member companies apply to get a cash infusion from a national payment company.
Twenty lucky small businesses will soon receive a pile of cash from Venmo to help their businesses survive.
On Thursday Venmo, part of PayPal Holdings announced its Venmo Small Business Grant that will provide $10,000 to help cover business expenses like rent or promotions. Twenty companies will be selected from those that apply for the grant.
In addition to the money, the Venmo Small Business Grant will also provide recipients with technical expertise and mentorship in areas like legal services, financial analysis, and digital marketing.
Venmo is offering financial grants because of the toll the past several years took on small businesses across the country. In the past two years, it’s estimated that 200,000 small businesses closed.
The grant is open to small businesses with less than $50k in annual revenue and 10 or fewer employees, and have an active Venmo Business Profile. Venmo Business Profiles help small companies organize, market, and grow their businesses.
To submit an application for the Venmo Small Business Grant, entrants must set up a Venmo Business Profile and apply at https://venmo.com/business/small-business-grant by August 11. Recipients will be announced in September.
