Initiative Will Grant Venmo Business Profile Users with Funds and Mentoring to Help Grow Their Business
SAN JOSE, Calif., July 28, 2022 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the Venmo Small Business Grant, a new program for emerging and small businesses that will provide financial grants and mentorship services to 20 new and existing Venmo Business Profile customers. Each of the 20 businesses selected will receive $10,000 that can go towards covering expenses, such as rent, or helping to digitize and promote their businesses.
According to a US Bank study, 82% of businesses that failed cited cash flow problems as a factor in their failure.1 In addition to providing a financial grant, the Venmo Small Business Grant program will provide recipients with access to technical expertise and mentorship on topics such as legal services, financial analysis, digital marketing and more. These resources will be