Are you looking for a way to get Venmo $10k Grant for your small business? If yes, you have stumbled upon the right article.
The Venmo Grant for small businesses is a great opportunity for emerging small businesses to get financial support of $10k and expertise mentorship. If you are a small business owner in need, you must apply for this grant.
If you wonder how to apply and get this subsidy, please read our comprehensive guide on Venmo grants for small businesses, including information about eligibility, documents required, and the application procedure for the program.
So without further ado, let’s begin.
What Is The Venmo Small Business Grant Program?
The Venmo Small Business Grant is a recent program that provides financial aid for emerging small businesses in the United States.
The program provides a $10k grant to 20 new and existing Venmo Business Profile customers to help them cover their expenses, such as rent, marketing, etc., and to assist small businesses in digitizing and growing their businesses.
In addition to financial grants, selected business owners will receive mentorship from industry experts on various aspects such as financial analysis, digital marketing, and legal services.
The Venmo Grant program intends to encourage small businesses to promote their firms. The program is designed for those facing economic constraints to run their business efficiently and cannot afford costly mentorship to develop their businesses.
If you need help from the government for your home improvement, please read our guide on “Apply for Government Home Improvement Grants.”
The highlights of the programs are:
- The subsidy is available to small businesses in all industries with a Venmo Business Profile.
- Recipients will be selected based on their business goals, plans for using the grant money, and overall impact on their community.
- Applying businesses must have been in operation for at least 1 year and have annual revenue of less than $50k.
- Primary consideration will be given to businesses owned by women, people of color, and veterans.
- Recipients will receive a grant worth $10k with mentorship from experts and promotion on Venmo’s social profile.
Venmo Grant for Small Business Application Process 2023
Venmo Small Business Grant Program is now accepting applications from emerging small businesses. You can apply for the program by August 7, 2023, to get the grant to help your business.
The Venmo grant program provides an easy online application process where you must provide information about your industry, website, and social media handles. You must also answer questions about your business goals and how to use the grant.
If interested, you must apply before the deadline. Venmo will not accept the application after the prescribed deadline. According to the program’s website, the grant winner will be announced in September 2023.
Here are some helpful tips to consider for applying for the Venmo grant for Small businesses.
- Ensure your Venmo Business Profile is complete and up-to-date.
- It would be best to clearly explain your plans to use the grant to grow your business.
- Highlighting your business’s unique selling points would be helpful.
- You must be concise in your application.
- Please carefully review your application before finally submitting it.
It is important to remember that grant approval depends on your business goals. The better you present your goals, the more chances you can win the grant.
Note: If you are a family in need of a health care grant, please read our guide “Apply For A Family Health Care Grant“
How To Apply For Venmo Grant For Small Business 2023
You can apply for the Venmo grant and have the required documentation if eligible. The application form is available at Venmo Small Business Grant’s official website at “https://venmo.com/business/small-business-grant/”
Please follow the below instructions to apply for the Venmo grant.
- Open the above site in your browser.
- Click on the “Apply now” icon.
- You will be redirected to the Venmo Small Business Grant application form.
- You can create your Venmo Business Profile if you don’t have one by clicking the “Get started” icon.
- If you have a Venmo Business Profile, please complete the application form by entering your relevant details, including your personal, business, and employee details.
- Then read and select the terms and conditions.
- Lastly, submit your application by clicking the “Apply now” icon.
Eligibility To Get Venmo Loan for Small Business
You must meet the following eligibility criteria for a Venmo grant for small businesses.
- You must be a legal United States or the District of Columbia citizen.
- You must be at least 18 or above.
- You must have a Venmo business profile in good standing with a profile photo, background photo, and business description.
- You must own a small business that is validly existing and in good standing as per the laws of the jurisdiction of its principal place of business.
- Your business must have less than $50k in net annual revenue.
- Your business should have 10 or fewer employees.
Documents Required To Apply For Venmo Grant For Small Business
You must provide essential documents to substantiate your eligibility while applying for the Venmo grant.
This documentation includes the following.
Venmo Business Profile
This is the primary requirement to apply for a Venmo grant program. You must have a Venmo Business Profile in good standing.
Tax Documentation
You must have tax documentation of the previous year showing your business’s annual revenue and number of employees. This can include a copy of your 1099-MISC or Schedule C.
Declaration of Compliance
You must sign a Declaration of Compliance, Liability Waiver, and Publicity Release.
Venmo Grant For Small Business Loan Of $10k Details
Here are some of the details about the Venmo Grant Program.
- $10k grant to small emerging enterprises facing a financial deficit.
- The businessman will get mentorship from top industry leaders regarding many helpful business growth aspects.
- The qualified businesses will be featured on Venmo’s social channels and website.
- The last date to fill out the application form is August 7, 2023
Conclusion
The Venmo Grant for small businesses provides an incredible chance for underrepresented small business owners to grow and succeed. This is extremely true for those struggling to get recognized with small funding.
With this grant and mentorship, small business owners can achieve big things that otherwise would have been out of their budget. If you need, we encourage you to apply for a Venmo grant before it gets too late.
FAQs
What is the deadline to apply for the Venmo Small Business Grant?
The deadline to apply for the Venmo grant is August 7, 2023.
Can I use Venmo for my small business?
Yes, you can use Venmo for your small business.
How much grant is available through the Venmo grant program?
Venmo gives a $10k grant to small businesses with expertise and mentorship.
How many small businesses use Venmo?
Venmo is currently used by more than 2 million small businesses, with more joining all the time.
Is Venmo for business free?
No, Venmo for Business is not free. You must pay a 1.9% transaction fee with 10 cents per transaction and a $0.25 monthly fee.
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