For many businesses, the Paycheck Protection Program (PPP) provided an essential financial stopgap to help small businesses survive the coronavirus pandemic. Many of the borrowers funded for PPP loans through Lendio’s platform came to us because they didn’t bank with an SBA-approved lender that decided to participate in the program. To help some of those businesses secure additional capital that will help them not just survive but thrive on the other side of this recession, Lendio is offering a series of grants to borrowers funded for a PPP loan through Lendio.
“Good vibes don’t pay the bills, and with revenues and traffic declining or paused, small businesses needed a lifeline,” our CEO Brock Blake says of the PPP. “Now, as the country begins to cautiously open up, it’s important that we continue to do what we can to support small businesses.”
How’s it going to work? We’ll let Brock speak for himself.
“As part of this mission, we’re excited to be issuing 23 grants to small business owners. The grants will be given in various denominations to small businesses across the country in a variety of industries. The aim of this initiative is to both give back to the small business owners who provide jobs, create a sense of unity in our towns and cities, and have stories of sacrifice and triumph worthy of sharing.”
Top prize? It’s $50,000.
Anyone who received a PPP loan funded through Lendio’s platform is eligible to apply for the Lendio Grants program.
To be considered for the Lendio Grants program, you must:
We’re offering a total of 23 grants in tiers of first through fifth place.
One grant of $50,000 will be awarded for first place.
2 recipients will each be awarded a $25,000 grant for second place.
5 recipients will each be awarded grants of $10,000 for third place.
10 recipients will each be awarded grants of $5,000 for fourth place.
5 recipients will be given 2 free months of Sunrise accounting services for fifth place.
You can learn more about the application process—including video guidelines and submission instructions—on our Lendio Grants page.
Winners will be contacted via email. They will also be announced on our Lendio Grants page, as well as our social media channels.