eBay offers $10,000 grants to sellers

Online marketplace giant eBay is offering $525,000 in grants and technical assistance to entrepreneurs — including Black-owned businesses — to support recent growth.

This was announced by the San Jose, California-based company that every of the 50 sellers on eBay within the US will receive a grant of $10,000 to expand their business. Each recipient may also receive a $500 stipend that corporations can use to equip themselves with mandatory office technology and academic support.

Now in its fifth 12 months, funding is an element of it eBay Startup Grant Program. Supporting small businesses since 1995, eBay bills itself as a worldwide marketplace with 132 million lively buyers. The company says it operates in 190 markets for buyers and sellers and had gross sales of $73 billion last 12 months.

The company stated that the study entitled this 12 months’s winners revealed that 90% found the grant extremely helpful, and the identical percentage said the funding gave them confidence in future their businesses. Moreover, 10% reported they used money to increase worker salaries.

Subsidies in addition they aim to help Black eBay sellers and all the corporate’s sellers. eBay has been exposed BLACK ENTERPRISES that 55% of Up & Running grant applicants in 2023 are entrepreneurs of color.

Black and other Americans have the liberty to use grants in any way that optimizes business success, including funding physical and digital store improvementsinvesting in recent equipment, inventory, marketing and other purposes.

According to eBay, research shows that it’s tougher for marginalized communities to obtain financial assistance, including: Down bank loans and other capital. The company revealed that its grants can be found to everyone and freed from charge.

Dawn Block, vp, general manager, eBay U.S., said in her comments: “We are constantly looking for ways to ensure that entrepreneurs in our marketplace have the capital, resources and community they need to truly thrive.”

Technology company Hello Alice is working with eBay and can manage the donations. Grant applications are already in open through June 7 at 6 p.m. ET.

Elizabeth Goreco-founder and president of Hello Alice, added in her remarks: “Grant programs are one of the most important resources for all small business owners who face challenges when trying to secure capital or credit to grow their business.”

Find out more in regards to the grant program Here.