eBay To Award $500K In Grants To SMBs…

eBay is launching a new grant program to support small businesses this holiday season, committing to give $500,000 to 50 businesses, the company announced in a press release.

Small business sellers on eBay can apply to the Up & Running Grants program between now and Dec. 11. Each seller will be awarded a $10,000 grant package, consisting of $8,000 in cash and $2,000 in eBay credits.

The sellers will also gain access to eBay’s Seller School and to training and coaching from eBay Growth Advisors and other “expert” sellers.

The eBay Seller School is an online learning platform that offers a varied level of courses to help sellers accelerate and expand their businesses.

“Small businesses are the backbone of eBay, as well as the engine of jobs, progress and prosperity for communities across the U.S. The launch of eBay’s Up & Running Grants program comes at a time when small businesses need investment and empowerment most,” said Jordan Sweetnam, GM and SVP for eBay North America, in the release.

Business accelerator Hello Alice is partnering with eBay to provide educational resources to all applicants, regardless of whether they receive a grant. Applicants can join an online network through Hello Alice to collaborate and learn from similar small businesses. They will also have access to Hello Alice’s COVID-19 Business Center.

“This has been a stressful year for many small business owners, and there is very little capital available to help owners through challenges this winter,” Elizabeth Gore, co-founder and president of Hello Alice, said in the release, calling funding a “critical part of SMBs’ success in 2021.”

eBay also recently announced a deal with UPS to provide small business sellers with new shipping services and discounted rates, in an effort to “support seller profitability.”

“In such a challenging year, it was important for this program to provide a financial bridge and long-term support, so small businesses can keep their doors open today and lay the groundwork for future success,” Sweetnam said.

Sellers applying to the program will be required to explain how they will use the grant to grow their businesses.

Up & Running is part of eBay’s Retail Revival program. The eCommerce giant has pledged to give $100 million to support small businesses and help them adapt to digital.

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.


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