Industry News – November 24, 2020

Ebay Announces Grants Program To Help Small Businesses Affected By Covid-19

In partnership with Hello Alice, eBay is inviting business sellers to complete an online application to submit details of their business and how the grant could help them stay up and running or fund their growth plans. 50 eBay business sellers will receive grant packages of $10,000, including cash, eBay credits, coaching through eBay Seller School, and more. Applications are now open and close on Dec 11.

Source: Forbes

 

Payment Tech is Needed to Drive Small Business Lending

Fintechs will play a critical role in small business recovery. While fintech solutions were once seen as “nice-to-have” benefits, they are quickly becoming integral to business survival. Banks, in particular, must rethink how they acquire, interact with, sell to, and service their small-business customers in an increasingly virtual world. 

Source: PaymentsSource

 

Citi Foundation Donates $15 Million to CDFIs ‘on the Frontlines’ Helping Black Businesses

Citi Bank is donating $500,000 to 15 CDFIs across the country who are helping black businesses. The CDFIs were selected via an open request for proposals application process based on their record of serving small businesses owned by people of color and underserved individuals and communities. 

Source: Black Enterprise 

 

Opinion: Build Better by Investing in Black-Owned Businesses

The African-American Chamber is hopeful that the president-elect and vice president-elect keep their promise to enlist, engage and energize Black businesses as part of their plan to Build Back Better

Source: The Cincinnati Enquirer 

 

Maine Gives Out Another $54M in Small Business Grants

More than 1,200 small businesses and nonprofits in Maine will learn Friday whether they won economic recovery grants with nearly $54 million in checks coming in mid-December, the state said. This is the second round of grants using part of the $200 million in federal CARES Act funds that Gov. Janet Mills allocated for struggling businesses and nonprofits. 

Source: Bangor Daily News