$10,000 Visa Grants to Support Black Women Entrepreneurs

Black women entrepreneurs can now apply for the Visa $10,000 in grants as part of a series of recent initiatives to support small businesses. The initial application process for this program was opened through July 31, 2020, has now been extended.

The application for this grant entails that you qualify for the grant by showing that you meet all of the following requirements as set by the grant eligibility committee:

The program criteria are as follows:

• Must be a Black women-owned business
• Must be located in the United States
• Must have a minimum annual revenue of $24K or more
• Must have been in business for 2+ years
• Must be a business that has a product or service in market and generating revenue
• Must be a growing business
• Must be a consumer product or service (B2C)
• Must have a compelling digital presence and supporting media

“The $10,000 is not a random number,” says Suzan Kereere, Visa’s global head of Merchant Sales and Acquiring told Forbes. “For many entrepreneurs, when they look for seed funding or funding to go from proof of concept to launch, the sweet spot is about $10,000.

The funding program focuses on the $8,000 to $14,000 range is the amount of capital you need to get an ordinary small business off the ground. One of the reasons so few businesses make it into the venture capital stage is the majority will need about that much capital to get started. We’ve got to give them the kind of capacity and elasticity they need that works at the scale the majority live in.”

“The $10,000 is not a random number,” says Suzan Kereere, Visa’s global head of merchant sales and acquiring. “For many entrepreneurs, when they look for seed funding or funding to go from proof of concept to launch, the sweet spot is about $10,000. The $8,000 to $14,000 range is the amount of capital you need to get an ordinary small business off the ground.

One of the reasons so few businesses make it into the venture capital stage is the majority will need about that much capital to get started. We’ve got to give them the kind of capacity and elasticity they need that works at the scale the majority live in.”

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