Black businesses can now get a $10,000 grant from Verizon to help them grow

By Jeffrey McKinney

18 December 2023

Growth-focused small businesses—including Black-owned companies—can receive a $10,000 grant from wireless giant Verizon.

Verizon Small Business Digital Ready is partnering with Next Street and Local Initiatives Support Corporation (LISC) in this effort. Verizon reports that its online small business platform is poised to provide low-resource small businesses with the tools they need to help them grow and thrive in today’s digital economy.

The Verizon-funded grant program means 50 small businesses will receive $10,000 grants for a total of $500,000. However, applicants should act soon as the current grant period deadline is now through December 20, 2023. Apply here by clicking on Register. The winners will be announced early next year.

Additionally, small businesses registering on the platform can receive other support, including personalized access to over 40 online courses, mentoring opportunities with industry experts and one-on-one coaching, all free of charge.

“Since launching Verizon Small Business Digital Ready in 2021, we have been able to support more than 200,000 small business owners across the country,” said Rose Stuckey Kirk, chief corporate social responsibility officer at Verizon. “We are proud to use our tools and resources, as well as our network of experts, to help small businesses succeed and ultimately, benefit their local communities.”

LISC, one of the nation’s largest community development nonprofits, will distribute the grants to the winners. It will also promote a grant program for non-profit community partners and small business networks.

The initiative is aligned with Verizon’s goal to support 1 million small businesses by 2030 and aligns with its responsible business plan, Citizen Verizon. Based on a survey of current users earlier this year, nearly 99% of respondents agree that courses on Verizon’s online small business platform helped their business.

For Black entrepreneur Deirdre Mathis, Verizon funding could help. He opened the Wanderstay Houston Hostel in Texas in 2018. They recently expanded by opening a second location, Wanderstay Boutique Hotel. Verizon’s Small Business Digital Ready program is one of their resources to help you gain skills as a business owner.

Mathis’ vision is to hire more employees and continue to support its current employees with training opportunities. She wants to boost her investment in marketing on social media to spread the word about both of her Wanderstay properties. This makes the $10,000 Verizon grant really timely for Mathis.

Insufficient or exhausted capital is one of the biggest operational hurdles for emerging and mature small business owners. A recent report revealed that 76% of Black entrepreneurs revealed that access to capital was a challenge. Based on those who never made money for their business, about 80% said they either did not get the right support or could not pay for services connecting to capital.

The good news is that the Verizon platform offers several courses that help small business owners get funding. Some include choosing the best SBA loan, navigating online loans, and finding the right financing for your business.

Source: www.blackenterprise.com