SAN DIEGO -- With the toll of untold numbers of small businesses closing their doors and to help fight the spread of the COVID-19 virus, Verizon has donated $2.5 million to Local Initiatives Support Corporation (LISC) for its Business Improvement Grants (BIG).
LISC will use the funds to provide grants of up to $10,000 to businesses and nonprofits facing immediate financial pressure because of COVID-19 -- especially entrepreneurs of color, women-owned businesses and other enterprises that don’t have access to flexible, affordable capital in historically underserved communities.
Because of the urgency of the crisis, the application process opens Wednesday, April 1, with the first round of applications closing Saturday, April 4 at 8:59pm (PST).
LISC will launch an online process for small businesses and nonprofits to submit applications for grants at: www.lisc.org/VerizonFund. Applications will be reviewed and then entered into a lottery.
The grants are designed to help business and nonprofits fill urgent financial gaps -- from paying rent to meeting payroll - until they can resume normal operations or other financing becomes available.