Introduction
In 2023, small businesses are facing unprecedented challenges due to the global pandemic and economic downturn. To support struggling entrepreneurs, LISC (Local Initiatives Support Corporation) has partnered with Verizon to offer small business grants. These grants aim to provide financial assistance and resources to help businesses survive and thrive during these difficult times.
Eligibility Criteria
To be eligible for the LISC Small Business Grants, businesses must meet certain criteria. Firstly, they must be located in an area where Verizon is providing support. Secondly, the business must demonstrate a need for financial assistance and be able to show how the grant would be used to support their operations. Finally, priority is given to businesses owned by women, minorities, and veterans.
Application Process
The application process for the LISC Small Business Grants is straightforward. Business owners need to fill out an online application form, providing details about their business, financial situation, and how they plan to utilize the grant. It is essential to provide accurate and comprehensive information to increase the chances of being selected for the grant.
Selection Process
After the application deadline, a panel of experts will review the submissions and select the businesses most deserving of the grants. Factors such as financial need, the impact of the grant on the business, and the potential for growth will be taken into consideration during the selection process. Successful applicants will be notified and provided with further instructions on how to receive the grant.
Benefits of LISC Small Business Grants
The LISC Small Business Grants offer numerous benefits to entrepreneurs. Firstly, the financial assistance can help cover operational expenses, rent, payroll, and other essential costs. This can alleviate some of the financial burdens faced by small businesses and enable them to continue operating. Secondly, the grant recipients also gain access to a network of resources, mentorship, and business support services provided by LISC and Verizon.
Success Stories
Since its launch, the LISC Small Business Grants program has supported numerous businesses in overcoming challenges and achieving success. One such success story is the case of Smith’s Bakery, a family-owned business in New York City. With the grant, they were able to pivot their business model, expand their online presence, and reach a wider customer base. This enabled them to not only survive but thrive during the pandemic.
Conclusion
The LISC Small Business Grants sponsored by Verizon have become a lifeline for struggling entrepreneurs in 2023. These grants offer financial assistance and resources to help small businesses navigate through challenging times. By supporting businesses owned by women, minorities, and veterans, the program aims to create a more inclusive and resilient economy. If you are a small business owner in need of financial support, consider applying for the LISC Small Business Grants and take a step towards securing a brighter future for your business.
