Since the start of COVID-19, or the novel coronavirus, pandemic, many major corporations have stepped up to offer their services and big donations to help marginalized communities impacted by the viral outbreak. Now eBay has become the latest corporation to step up to help combat the economic devastation caused by the public health crisis.
This week eBay Foundation announced they would be offering $10 million in grants to support COVID-19 relief around the world. The foundation has since tripled its grantmaking efforts from last year and this week’s announcement would be the largest funding round in the foundation’s history. This generous effort comes at a critical time when small businesses are on the verge of collapse and the rest of the country is suffering from massive job loss.
“As we navigate our ‘new normal’ amid COVID-19, we all hear — and say — what an unprecedented time this is, and that is undoubtedly true,” said Allie Ottoboni, president, eBay Foundation in a press statement. “And so, we felt it was critical to meet the moment and provide an unprecedented level of funding from the eBay Foundation to underrepresented entrepreneurs and small businesses who make our communities what they are.”
These new grants will be disbursed amongst a range of organizations including Kiva, the World Health Organization, Local Initiatives Support Corporation (LISC), Start Small Think Big, and ICA Fund Good Jobs.
“eBay has been an important partner to us over the years as we’ve partnered on employee lending initiatives,” said Neville Crawley, CEO of Kiva. “We are thrilled and incredibly proud to receive this additional funding from eBay, which comes at a crucial time for small businesses and entrepreneurs around the world needing necessary funds due to COVID-19.”
The Foundation is also responsible for contributing $500,000 in April to the Silicon Valley Strong Fund for financial assistance geared toward low-income residents who have lost wages and are facing economic hardship in addition to another $1 million to Silicon Valley Community Foundation’s regional response and nonprofit emergency funds.
“This incredibly generous grant from the eBay Foundation will help save small businesses on the front lines of this unparalleled crisis,” said Jennifer DaSilva, executive director, Start Small Think Big in a press statement. “With eBay’s support, Start Small Think Big will be able to ensure that small businesses, who are so often left behind, have critical access to the services they need the most now.”