Source: Local Initiatives Support Cooperation (LISC)
Small businesses across the country are confronting extreme economic challenges as a result of the Covid-19 pandemic. Financial support at this critical time can make the difference between staying in business or closing permanently, leading to lost income, jobs and economic stability.
Thanks to a $2.5 million investment from Verizon, LISC is offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available.
Additionally, Verizon recently launched #PayItForwardLIVE, a weekly livestream from big names to pay it forward for small businesses. Viewers can tune in every Tuesday and Thursday at 8PM ET/ 5PM PT on @Verizon’s Twitter, Yahoo, Twitch, and Fios Channel 501. As people support their favorite small businesses with #PayItForwardLIVE, Verizon will commit an additional $10 per use of the hashtag, up to $2.5 million, for a total of up to $5 million in support.
Who is eligible?
LISC will use the Verizon funding to provide grants of up to $10,000 to businesses facing immediate financial pressure because of Covid-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital.
What it can be used for?
Paying rent and utilities
Meeting payroll
Paying outstanding debt to vendors
Other immediate operational costs
What’s next?
Thank you for your interest. The application period for Round 1 is now closed. Please register here to stay updated about another round beginning mid-April. Having trouble? Email enews@lisc.org to sign up.
Read the Original Article: https://www.lisc.org/covid-19/verizon-small-business-recovery-fund/