eBay is launching a new initiative to aid small businesses offering $500,000 in grants as COVID-19 resurgence threatens retail.
The online marketplace announced today that it has committed $500,000 in funding and education resources for existing business sellers. Dubbed the Up & Running Grants, the program is providing 50 merchants with a package of $8,000 in cash and $2,000 worth of eBay credits for a total of $10,000 in financial support.
Since the onset of the pandemic, hundreds of thousands of small businesses have permanently shuttered despite the government’s more than $650 million financial rescue attempt.
According to Jordan Sweetnam, GM, and SVP of eBay’s North America Division, “Small businesses are the backbone of eBay, as well as the engine of jobs, progress, and prosperity for communities across the U.S.”
“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,” he added.
Starting today through Dec. 11, small businesses that sell on eBay are encouraged to apply for the grants via an online application. They will be asked to share details of their offerings, as well as how they plan to use the grant to expand their businesses.