Essential Guide to Verizon's Small Business Digital Grants

Essential Information About Verizon's Small Business Digital Grants

Verizon Communications, a top global telecom provider, has launched new funding opportunities for small enterprises through its Small Business Digital Ready program. Collaborating with groups like the Local Initiatives Support Corporation (LISC), Verizon aims to equip small businesses with vital tools for digital growth. Here's what you need to know about this innovative initiative.

Highlights of the Verizon Small Business Digital Ready Program

Customized online learning opportunities
Businesses gain access to over 40 tailored online courses, covering essential skills like marketing, social media strategies, employee engagement, and cybersecurity.

These courses help develop key skills such as marketing tactics, social media outreach, workforce improvement, and cybersecurity measures.

Access to industry experts and mentorship
The platform offers free mentorship from industry specialists who guide entrepreneurs through challenges and strategic growth.

User-friendly resources and innovative tools
The program’s interface has recently been upgraded with new content like articles, short videos, and audio clips to boost engagement and usability.

Grant eligibility and application period
From October 12 to December 20, small businesses can apply to receive $10,000 in funding through the program.

Businesses must register on the platform and complete at least two of three activities—courses, coaching, or community events—to qualify.

No-cost support
The initiative offers free education and guidance, enabling small businesses to grow without financial burdens.

Who is eligible to apply?
Applicants must complete at least two activities and submit a proper application. Priority is given to underrepresented and underserved communities. Non-profits are not eligible, and applying businesses must be for-profit, at least 18 years old, and only one application per business.

Notification process for selected recipients
Successful applicants will be contacted via email by LISC. Unresponsive or failed notifications result in disqualification and candidate replacement.

Application tips for success

Check eligibility prior to applying
Consult with local community managers to verify eligibility before submitting the application.

Follow legal regulations
Ensure compliance with all applicable laws, including tax and anti-discrimination policies.

Perform regular audits
Keep financial records available for independent reviews and share audit results with stakeholders.

Prioritize direct costs
Allocate at least 85% of funds to direct project-related expenses, with overhead costs kept below 15%.

Explain IT expenses thoroughly
For IT-related grants exceeding 20% of direct costs, provide detailed use cases and connectivity information.

Additional considerations

Educational grants for schools
Verizon supports programs that enhance digital literacy among K-12 teachers and students. However, hardware purchases require prior approval unless covered under other Verizon programs.

Restrictions on funding
Funding may exclude religious organizations, political campaigns, and certain charities, especially if they have received grants consecutively for three years. Reapplication after a one-year gap is required.

Understanding the eligibility and application process is crucial for businesses seeking Verizon’s digital grants. These funds can significantly propel their growth and digital transformation efforts.