Venmo Small Business Grant: Eligibility, timeline, and how to apply

The Venmo Small Business Grant is Venmo’s financial support program for small businesses that use a Venmo business profile to accept payments. In this initiative, Venmo awards selected customers with a Venmo business grant, providing both cash and access to guidance from business experts.

Ten recipients receive a $20,000 award each, intended to help cover things like rent, supplies, marketing, or digitizing operations.¹ Recipients are chosen through a judging process that looks at innovation, passion, and business plans, and businesses from historically underrepresented communities are considered as part of that evaluation.

A grant award is intended to help businesses grow, not just provide a short-term boost, so applicants should be ready to explain how the funds will be used to move their business forward.

When does the Venmo Small Business Grant open and close?

The most recent application window for the Venmo Small Business Grant ran from May 10, 2024, through May 31, 2024.² Recipients from that cycle were announced in July 2024, following a review by its judging committee.

The Venmo Small Business Grant wasn’t run in 2025. However, timelines can change, and Venmo doesn’t tend to run the grant on a fixed annual schedule. Businesses and startups looking to raise capital should keep an eye on the official Venmo Small Business Grant page for any announcements about a 2026 opening date or future application windows.

Who is eligible for the Venmo Small Business Grant application?

Venmo keeps eligibility pretty specific, so it’s worth checking each item before spending time on the application. Generally, the Grant Program is open only to business owners who meet all the requirements outlined below.

• Residency and age: A legal resident of the 50 US states or the District of Columbia, and at least 18 years old.
• Venmo account and business profile: A US Venmo account plus a valid Venmo business profile in good standing. The business profile must include a profile photo, background photo, and business description at the time of application and through any grant award.
• Small business definition: The business must be organized and in good standing in the jurisdiction of its principal place of business (within the 50 US states or the District of Columbia) and be able to provide requested government documentation to prove business status. It must also employ 10 employees or fewer and have less than $50,000 in annual sales.
• Recent activity: The business must be active and have sold at least $500 worth of goods or services within the three months before the start of the Grant Program Period.
• Who can’t apply: Employees of PayPal, Merkle, Global Entrepreneurship Network, Hello Alice, and their parent or affiliate companies (plus immediate family and household members) aren’t eligible.²

What do Venmo business grant recipients get?

Recipients of the Venmo small business grant get more than a one-time cash award. Selected businesses each receive $20,000 to put toward business expenses such as rent, supplies, marketing, or work that helps the business grow.³

Alongside the funding, the Venmo business grant also includes access to technical expertise and mentorship. Businesses also receive support areas like legal services, financial analysis, and digital marketing, plus other practical guidance that can help owners make confident next steps.

These grant resources are delivered in partnership with Hello Alice and the Global Entrepreneurship Network, with PayPal and Venmo employees providing coaching and pro bono services as part of the program.

Wise Business Could Help Your Company Save on Global Payments

How to apply for the Venmo Small Business Grant

To start a Venmo Small Business Grant application, you first need to make sure your business is set up properly on Venmo. Venmo’s official terms state that during the grant’s open period, applicants must visit the official Venmo Small Business Grant page and follow the links there to reach and submit the online form.

The profile itself must be a U.S. Venmo account with a valid business profile in good standing and include a profile photo, background photo, and business description before and through the application and award process.

Here’s a simple step-by-step overview of what the process looks like:

1. Confirm or create your Venmo business profile: Make sure your account is set up as a Venmo business profile, and that all required fields (photo, background, description) are filled in before you begin.
2. Go to the grant page during the open window: Only when the application period is active will the grant form be accessible on venmo.com/business/small-business-grant.
3. Fill out the online form: The application asks for basic business information and responses to the required questions. Follow all instructions carefully and make sure each answer stays within any stated word limits.
4. Submit before the deadline: Applications have to be submitted before the program period ends (for example, late May 2024 for the last cycle).
5. Await review and results: Once submitted, responses are evaluated by a judging committee. Finalists and recipients are typically contacted and announced later (for example, recipients from the most recent cycle were announced in July).

For customers, remember that specific dates and form availability only appear during active grant cycles, so again, it’s best to keep a watchful eye on the Venmo official grants page for the next application cycle.

What are the rules for submitting a Venmo Small Business Grant application?

Before you submit, there are a few practical rules to keep in mind. Venmo says your Submission needs to be your original work, and it shouldn’t include third-party content or anything that uses someone else’s name, image, or intellectual property without permission.

It also needs to stay professional and brand-safe. That means no offensive material, no illegal content, and no references to things like alcohol, illegal drugs, tobacco, firearms, or political agendas.

It’s also a one-shot application. Venmo limits customers to one Submission during the program period, and any extra attempts or automated submissions are not accepted.

Finally, the terms explain that by uploading your Submission, you’re giving the sponsor permission to use it, including publishing or adapting it for promotional purposes. For most small businesses, this might be seen as welcome additional publicity and exposure, even if you don’t win the grant.²

What makes a strong application?

A strong Venmo Small Business Grant application lines up closely with how Venmo says submissions are reviewed. According to the official judging criteria, a big part of the score comes from your business story and plans.

Venmo looks for applications that clearly explain what makes the business original or inspiring, and how the grant would be used in practical ways, such as rent, supplies, marketing, or digitizing parts of the business like payments and salaries.

It also helps to show genuine passion and realistic next steps, rather than big promises without detail.

Finally, if applicable, customers can speak honestly about how being part of a historically underrepresented community has shaped their entrepreneurial experience, as this is mentioned as a part of the evaluation criteria.²

Working across borders? Grants aren’t your only funding option

For many small businesses, the money side of things gets complicated once payments start coming in from overseas or bills need to be paid in another currency. Even when the business is doing well, handling different currencies can still feel complicated.

The challenge often isn’t finding funds. It’s getting paid, converting money, and sending it out again without losing a chunk to unclear exchange rates.

That’s where Wise Business can help. When compared to Venmo, Wise is a practical tool for cross-border payments. It uses the mid-market exchange rate, with fees shown upfront, so customers can see the full cost before sending money.

Wise can be especially useful for businesses with customers abroad, international suppliers, or contractors paid in other currencies. With a clearer view of rates and fees, it’s easier to plan and keep cash flow steady.

Save Time and Money On Overseas Payments With Wise Business

Wise Business can help you save big time on international payments.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies.

Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.

Some key features of Wise Business include:

• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers

• Global Account: Send money to countries and hold multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local

• Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account

• Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met

• Free invoicing tool: Generate and send professional invoices

• No minimum balance requirements or monthly fees: US-based businesses can open an account for free. Learn more about fees here

Use Wise Business >>

Sources:

1. Small business grant | Venmo
2. Small business grant terms | Venmo
3. Venmo Small Business Grant Now Accepting Applications to Support Small Businesses for the Third Year | PayPal