{"id":47949,"date":"2023-07-28T15:51:53","date_gmt":"2023-07-28T19:51:53","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=47949"},"modified":"2023-07-28T15:51:53","modified_gmt":"2023-07-28T19:51:53","slug":"inside-venmos-small-business-grant","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/inside-venmos-small-business-grant\/","title":{"rendered":"Inside Venmo\u2019s Small Business Grant"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_single_image image=&#8221;47950&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]The mobile payment service <a href=\"https:\/\/venmo.com\/\">Venmo<\/a> (owned by <a href=\"https:\/\/www.paypal.com\/us\/home\">PayPal<\/a>), recently began accepting applications for its second <a href=\"https:\/\/venmo.com\/business\/small-business-grant\/\">Small Business Grant<\/a> program, which will be open through 11:59 PM EST on August 7, 2023. The program was designed to provide monetary grants and mentoring opportunities for 20 small and up-and-coming businesses. Each of those businesses selected will get $10,000 for essential expenses (rent, for example) or to help bring their business online. All applicants must have a <a href=\"https:\/\/account.venmo.com\/signup\">Venmo business profile<\/a> in order to qualify for acceptance, which must include your business description, profile photo, and background photo. And to showcase PayPal\u2019s commitment to diversity and inclusion, \u201cspecial consideration will be\u00a0given to small business owners from historically underrepresented communities,\u201d according to the <a href=\"https:\/\/venmo.com\/business\/small-business-grant\/\">Venmo Small Business Grant website<\/a>. The Venmo Small Business grant was initially launched last year to great reception\u2014the program received <a href=\"https:\/\/www.prnewswire.com\/news-releases\/venmo-small-business-grant-now-accepting-applications-to-support-emerging-and-small-businesses-301883588.html\">15 times more applications<\/a> than were initially expected, which truly showcased the need for support among small business owners.<\/p>\n<p><strong>The Who and the What<\/strong><\/p>\n<p>Small business owners are welcome to apply so long as they meet the following criteria: Be a Venmo business user with a complete profile; make less than $50K a year in revenue; employ 10 or less people. Those selected can receive a $10k grant, free promotion on Venmo\u2019s social channels, or mentorships from industry leaders. The mentorships and technical coaching cover topics top-of-mind for many small business owners, including legal services, financial breakdowns, and marketing. The mentoring resources are provided to recipients through Venmo\u2019s partnership with <a href=\"https:\/\/www.startsmallthinkbig.org\/about-us\">Start Small Think Big<\/a>, in addition to employees of PayPal and Venmo skilled enough to offer business coaching and pro-bono assistance. <a href=\"https:\/\/www.startsmallthinkbig.org\/\">Start Small Think Big<\/a> is described on its website as \u201ca nonprofit dedicated to advancing equity and inclusion in entrepreneurship by connecting small businesses with the resources and community they need to thrive. We focus on partnering with BIPOC entrepreneurs, women, LGBTQIA+ entrepreneurs, immigrants, veterans, entrepreneurs with disabilities, low-income entrepreneurs, and formerly incarcerated entrepreneurs.\u201d<\/p>\n<p><strong>The Venmo Small Business Profile<\/strong><\/p>\n<p>Venmo launched its business profiles in February 2021; since then, over 2.5 million small businesses have used their profiles not only to accept payments from customers, but to market their company and grow their business in a cost-effective manner. Users can take payments through the app or in-person with a special QR code, and each transaction is encrypted for security.<\/p>\n<p>If you\u2019re interested in applying for this Small Business Grant, <a href=\"https:\/\/venmo.com\/business\/small-business-grant\/\">head over to Venmo<\/a> and get started. Remember you\u2019ve only got until August 7<sup>th<\/sup> to get your business in the running.<\/p>\n<p>The <a href=\"https:\/\/www.arffinancial.com\/development\/blog\/?urlsource=blog\">Financial Pantry<\/a> is a great source for the latest small business grants, industry updates, and marketing tips\u2014all backed by the expert loan consultants who call <a href=\"https:\/\/www.arffinancial.com\/development\/?urlsource=blog\">ARF Financial<\/a> home. Whether you\u2019re looking for insider advice on making your business a success or you\u2019re shopping around for the best loan product available, ARF Financial has you covered. Check out our <a href=\"https:\/\/www.arffinancial.com\/development\/resources\/knowledge-center\/?urlsource=blog\">Knowledge Center<\/a>, where we\u2019ve got plenty of white papers, presentations, even an eBook\u2014all crafted to help your business reach its fullest potential.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_single_image image=&#8221;47950&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]The mobile payment service Venmo (owned by&#8230;<\/p>\n","protected":false},"author":5,"featured_media":47950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[698],"tags":[398,402,400,399,443,386,535,220,1108,213,944,943,1107,401,224,222,172,226,142],"class_list":{"0":"post-47949","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-small-business-financing","8":"tag-affordable-business-loans","9":"tag-affordable-small-business-growth","10":"tag-business-expansion","11":"tag-business-growth","12":"tag-business-line-of-credit","13":"tag-business-loans","14":"tag-equipment-leasing","15":"tag-flex-pay-loans","16":"tag-inside-venmos-small-business-grant","17":"tag-line-of-credit","18":"tag-marketing","19":"tag-operations","20":"tag-profile-photo","21":"tag-small-business-expansion","22":"tag-small-business-financing","23":"tag-small-business-funding","24":"tag-small-business-growth","25":"tag-small-business-loans","26":"tag-working-capital"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - 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