Frequently Asked Questions
Who is eligible to receive these grants?
A: These grants will focus on providing support to Black small business owners to cover expenses related to stabilizing and reopening their businesses that have been impacted by COVID-19 or civil unrest. Applicant must be small business owners (under 10 employees or less, with revenue less than $1 million) operating as of May, 2019. Sole proprietors, independent contractors, and self-employed persons are welcome to apply. Additional requirements apply.
What do I need to apply?
A: You’ll need to provide basic details about your business, its operations and the funds you need. We’ll ask you a standard list of questions to ensure you meet the qualifications. You’ll be required to qualify for and have a PayPal Business Account in order to receive the grant.
How long is the review process? When can I expect to hear back?
A: We will work through applications as fast as we can. You will receive an email confirmation as soon as your application is submitted. You can expect to hear from us within 1-2 weeks.
What amount can I qualify for?
A: You will be asked to carefully calculate and request only the amount you need in order for your business to recover (up to $10,000). We are working to empower as many small businesses as possible though this community-focused effort.
Why is PayPal doing this?
A: Inclusion is part of how we do business at PayPal, and we want to be thoughtful with a significant commitment to help address systemic racial injustice. Our central mission is democratizing access to financial services and creating new economic opportunities for as many people and businesses as possible. We were spurred to even greater action by recent events. As we continue to live through an unprecedented global pandemic and economic crisis that has disproportionately affected more poor people and communities of color, we knew that we had to do more to live our values.
I saw the announcement that the grant is closing, will there be another opportunity?
A: Due to overwhelming response, we will pause accepting new applications on Saturday, June 13 at 3 p.m. EDT. This pause will allow us to process submitted applications and assess the availability of additional funds.
I submitted my application prior to the notice, am I still eligible?
A: Yes, if you received email confirmation that your application was submitted, you are still in the review cycle. We will start our evaluation and will follow up in the next two weeks.
When do you expect the program to reopen? How will we be notified?
A: We are exploring additional resources that may be helpful to you. Please check back on the website for the most recent updates. In the meantime, these additional options may be helpful to you:
- The AEO Main Street Rise package offers AEO products to support your small business during this challenging moment.
- If your organization has been negatively impacted by COVID-19 and has not yet been approved for an SBA Paycheck Protection Program loan, PayPal is still accepting PPP loan applications. You can learn more about PPP loans here. Obtaining a PPP loan will not disqualify your organization from applying for the PayPal Empowerment Grant. The lender for the Paycheck Protection Program Loan through PayPal is WebBank, Member FDIC.
What can this grant be used for?
A: The grant funds must be used to help small businesses recover from instability caused by the COVID-19 shut down or the recent civil unrest. This can include expenses related to payroll, benefits, interest on mortgage obligations, rent, utilities, and repairs.
Is there a deadline?
A: Grant applications will be accepted until the $10 million in empowerment funds have been distributed.
What are the terms of the grant? Do I have to pay it back?
A: No, the funds are yours to invest in your business.
How can I open a PayPal account?
A: Click here to learn more.
Is there a background check and screening process?
A: As part of the standard PayPal account creation process each business owner will need to follow the PayPal User Agreement and Policies, see more details here. No criminal background or credit check will be required as part of this process.
My application was in progress when I received the notice, am I still able to submit?
A: Thank you for beginning your grant application. Please complete your application by 3 p.m. EDT on Tuesday June 16. Incomplete applications will expire on Tuesday, June 16 at 3 p.m. EDT and will not be considered.
If you are unable to complete your application by 3 p.m. EDT on June 16th, we will automatically place you on a mailing list to receive future updates on the program.
I've already submitted my application. Does this mean there will be a delay in when I receive funding?
A: Thank you for your submission. We are using this time to focus on your application. We will start the review process in the next two weeks. This will not impact your reward timeline.
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