The LISC Verizon Small Business Grant is a program designed to provide financial assistance to small businesses that have been impacted by the COVID-19 pandemic. As businesses continue to struggle with the economic effects of the pandemic, this grant aims to provide some relief and support to help them stay afloat.
1. Small Business
To be eligible for the LISC Verizon Small Business Grant, the business must meet the Small Business Administration’s definition of a small business. This typically includes businesses with less than 500 employees, although certain industries may have different size standards.
2. Located in the United States
The business must be located in the United States, including its territories and tribal areas. This grant is specifically targeted towards businesses that are serving underserved communities, so priority may be given to businesses in certain locations.
3. Financial Need
The business must demonstrate a financial need for the grant funds. This can include showing a decline in revenue or sales due to the pandemic, increased expenses related to implementing safety measures, or other financial hardships caused by the pandemic.
The application process for the LISC Verizon Small Business Grant is straightforward and can be completed online. The business owner will need to provide information about the business, including its location, number of employees, and financial information. They may also be required to submit supporting documents, such as tax returns or financial statements.
The grant amount varies depending on the needs of the business and the available funding. In previous rounds of the program, grants have ranged from $5,000 to $20,000. The funds can be used for a variety of purposes, including paying employee wages, covering rent or utilities, purchasing inventory, or adapting the business to comply with health and safety guidelines.
Once the application period closes, a selection committee will review the applications and determine which businesses will receive grants. The committee may consider factors such as the impact of the pandemic on the business, the financial need, and the potential for the grant to help the business recover.
The LISC Verizon Small Business Grant is a valuable resource for small businesses struggling to survive during the COVID-19 pandemic. By providing financial assistance, this grant aims to support businesses and help them navigate these challenging times. If you meet the eligibility criteria, consider applying for this grant to give your business the boost it needs.