With the early August deadline approaching, here's how to quickly apply to receive one of these $10,000 grants from Venmo, who's eligible, and how to increase your chances of winning. To see all of these details and apply, add the Venmo $10k Grants to your Skip Funding Assistant. In this post we'll cover everything you need to know, plus a run-through video from Skip CEO Ryder Pearce is below.
Who's Eligible for the Venmo Small Business Grants?
Here are the basics:
- 40 finalists selected, 20 winners will receive $10k
- Open to US businesses making less than $50K per year
- Must be active and have $500+ in transactions recently
- Must have less than 10 employees
- Must have a Venmo business profile
- Must apply by Monday August 7th
If you're eligible, we recommend applying soon! See all the details and apply here
What Questions Do I Need To Answer For the Venmo Small Business Grants?
On the Venmo grant application, there are two mandatory questions and one optional question.
- Question 1: We’d love to hear about your business, your background, and how you made it to where you are today.
- Question 2: What does the future look like for your business, and how can Venmo help you achieve your goals?
- Question 3 (if applicable): Tell us how being a member of a historically underrepresented community (Black, Women, Latinx, etc.) may have shaped your entrepreneurial experience.
You can see all these questions on the Skip Grants Vault ahead of applying.
How Can I Increase My Chances of Winning the Venmo Grant?
The first step, believe it or not, is just submitting your application. Our data shows that over 80% of interested businesses never submit their applications or miss the deadline. So just by applying you're ahead of the vast majority.
The second step is to make sure you have a Venmo business profile. You can set this up in a few minutes on your Venmo account, or if you don't have one download the Venmo app. Go to Settings > Create Business Profile. We also recommend starting to make some Venmo transactions for your business, so you can mention this in your application.
The third step is to make your answers original and unique. This is what the judges are looking for. In fact, here's the exact judging criteria:
- How inspirational, innovative or particularly original is your business’ story? (30%)
- How well does your application demonstrate passion for your small business and concrete plans for where you plan to take it next? (30%)
- How well does your application demonstrate that your active and engaged usage of a Venmo business profile has and will continue to benefit your business? (20%)
- How, if applicable, has being a member of a historically underrepresented community (Black, Women, Latinx, etc.) shaped your entrepreneurial experience? (20%)
If you want help reviewing your answers specifically for this Venmo grant application, book a time to talk with our team here. Spots are limited. If you want more insights on this funding opportunity, become a Skip Plus member.