FedEx Coronavirus Grants: $1 Million to Small Businesses

FedEx is supporting small companies which are reeling in the fallout from the coronavirus.

The delivery-services corporation allotted $a million in “Support Small” grants open to companies with 50 employees or less. Each one of the 200 awardees will get a $5,000 grant along with a $500 FedEx Office credit for use in-store for printing, packaging and designing services. There aren’t any limitations on which the grant money can be used as.

“Many small companies are hurting at this time. We all know you’re putting your all into not only surviving but increasingly creative and resilient than ever before,” the organization announced.

Online applications will open May 25 and shut June 12 at 11:59 p.m. Eastern. Once live, companies can complete the applying on FedEx’s Support Small grant website.

Based on FedEx’s grant FAQ, the applying takes less than ten minutes. It offers a questionnaire, that will requireS fundamental history concerning the business, a company Identification Number (EIN) or perhaps a Ssn (SSN). Documents associated with 2019 business revenue may also be required to determine eligibility.

To qualify, small companies must:

  • Be operating not less than twelve months.
  • Have less than 50 employees.
  • Be for-profit.
  • Make under $5 million in sales revenue in 2019.
  • Have shipped within the last 12 several weeks and have intends to ship within the next 12 several weeks.

Applicants should be a minimum of 18 years of age.

Direct sellers, independent consultants, non-profit organizations and franchised companies aren’t qualified for grants.

The grant money doesn’t need to be paid back. Following the application portal closes, FedEx will start selecting companies and notifying them via email at the end of June through early This summer.

The Support Small initiative is outside of FedEx’s annual small company grant contest. Winners for your contest happen to be selected, and former awardees aren’t qualified for that new grant program.

Government assistance programs with the Sba happen to be affected by delays and depletion of funds. The Small business administration announced at the begining of May that 60% from the second round of small company funding for that Paycheck Protection Program have been spread. Applications for Economic Injuries Disaster Loans, another Small business administration emergency program, happen to be closed to new applicants for days.

FedEx may be the latest company to participate a wave of non-public-sector funding for small companies. Amazon . com, Facebook, Microsoft and Starbucks also have contributed grant money to companies impacted by the fallout of COVID-19.

Adam Sturdy is really a staff author in the Cent Hoarder. He covers the gig economy, entrepreneurship and different ways to earn money. Read his ​latest articles here, or say hi on Twitter @hardyjournalism.

It was initially printed around the Cent Hoarder, which will help countless readers worldwide earn and cut costs by discussing unique job possibilities, personal tales, freebies and much more. The Corporation. 5000 rated The Cent Hoarder because the fastest-growing private media company within the U.S. in 2017.

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