Post #574: Verizon $10K grants to small business

I have been told that Verizon is starting a weekly concert series, with a twist.  They will both ask you to support local small businesses, and then will open up an application process and lottery for $10K grants to local small businesses.

I’m not quite sure of the details.  And it’s not a huge amount of money.  But it’s a nice gesture.

I can give you the links to Verizon’s information, and then quote the key parts.

https://www.verizon.com/about/news/biggest-names-helping

... The weekly series will debut on Thursday, March 26, at 8:00 p.m. ET with a performance from Dave Matthews.

... The concerts will stream live at 8:00 p.m. ET on Twitter @verizon, on Yahoo Entertainment and on Fios Channel 501.

“... Verizon will donate $2.5 million to Local Initiatives Support Corporation (LISC), a national nonprofit that has invested $20 billion to fuel economic opportunity for people and communities across America. Over the course of the series, all viewers who tune in will be encouraged to tag their favorite local businesses and make a purchase in advance for when the crisis is over and the businesses reopen. As consumers engage, Verizon will unlock an additional $2.5 million in funds, bringing the total donation to a potential $5 million. 

LISC will use the funds 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 that don’t have access to flexible, affordable capital in historically underserved communities. LISC will launch an online process for small businesses to submit applications for grants. Applications will be reviewed and then entered into a lottery. 

...

It’s a start.  And the idea of buying (e.g.) gift cards now, for later redemption, makes sense.