Black businesses are now among those who can apply for a $10,000 grant from online shopping site eBay.
The funding is part of eBay’s newly launched 2023 Up & Running program. According to eBay, the initiative offers entrepreneurs the tools to scale up their businesses.
All told, 50 U.S. eBay small business sellers will get a $10,000 grant to invest in their small businesses and a $500 technology stipend to fuel their growth.
Maintaining entrepreneurialism is its DNA, eBay said. “The grants offer small businesses resources like physical and digital store improvements, new equipment, inventory, hiring, training, and marketing.” The company’s $500,000 grant program comes as many small businesses seek financial support.
Entrepreneurs will be able to equip themselves with essential office technology tools from eBay Refurbished. Applications are open now through June 9, 2023. Get more details about applying and eligibility requirements here. Grant winners will be announced in September.
Between 2020-2023, eBay reports it has pledged over $2 million to encourage and support U.S. small businesses to help them grow. A survey of eBay’s grant awardees since 2020 showed that 91% of recipients found the funding extremely or very helpful for their businesses. Further, some 41% reported increased revenue after getting the grant.
“For 28 years, eBay has fostered entrepreneurialism by giving people a platform to launch and grow small businesses,” said Adam Ireland, VP & U.S. General Manager at eBay. “Supporting sellers is at the core of our marketplace, and the capital, community and business tools that make up our Up & Running Grants represent another layer of eBay’s investment and commitment to every seller’s success.”
For the fourth year, eBay is uniting with Hello Alice, a free, multi-channel platform that helps businesses launch and grow, to administer the grant program. Hello Alice will provide access to mentorship and resources to all sellers who apply.
Elizabeth Gore, co-founder and president at Hello Alice, said, “At Hello Alice, we have a mission of helping small businesses receive access to capital and resources that help them grow, which are especially necessary within today’s challenging economic climate.”