Square's New Grant Program: A Game Changer for Small Businesses

In a welcome move for Main Street entrepreneurs, Square has just launched a new grant program aimed at supporting small business owners who need an extra boost to grow, evolve, or simply stay afloat in a competitive economy.

While Square has long been known for simplifying payments and providing embedded financial tools like loans and cash advances, this new Cornerstone Grant Program initiative shifts the focus from lending to giving. For many early-stage or underfunded businesses, a grant, not a loan, is exactly what’s needed.

What We Know About Square’s Small Business Grant Program

Square’s grant initiative focuses on:

• Direct financial assistance to eligible small businesses

• Supporting diverse entrepreneurs and underserved communities

• Helping business owners invest in growth, technology, or operations

  
  

This reflects a growing recognition: not all small businesses need more debt—they need opportunity.

How to Apply for Small Business Grants (Including Square’s)

Whether you're applying for Square's grant or exploring others, most applications follow similar patterns:

1. Check Eligibility

2. Tell Your Story

3. Submit Financials or a Plan

4. Watch the Deadline

   
   

Pro Tip: Keep a running document about your business (mission, needs, achievements) that you can tweak and reuse across grant applications.

Other Notable Small Business Grant Programs

Here are five major grant programs worth exploring:

1. FedEx Small Business Grant Contest

This annual competition offers cash prizes and services to U.S.-based small businesses.

2. Amazon Black Business Accelerator

Designed for Black-owned businesses selling on Amazon, this program includes financial grants, mentorship, and marketing support.

3. Venmo Small Business Grant

Offers $10,000 grants plus promotion for Venmo Business profile users.

4. Comcast RISE

Grants and marketing/tech support are available for minority- and women-owned businesses in select markets.

5. NASE Growth Grants (National Association for the Self-Employed)

Quarterly $4,000 grants for NASE members to invest in business needs.

Why This Matters

For businesses that aren’t ready for loans—or want to avoid interest altogether—grants are a smart alternative. As major fintechs like Square get involved, this model is becoming more accessible than ever. Brokers, advisors, and lenders who understand this space can better guide entrepreneurs through stepping stones to credit-readiness.

The Impact of Grants on Business Growth

Grants can significantly impact a business's trajectory. They provide the necessary funds without the burden of repayment. This financial relief allows entrepreneurs to focus on growth rather than worrying about monthly payments.

Imagine a small café that needs a new espresso machine. A grant could cover that expense, enabling the café to serve better coffee, attract more customers, and ultimately increase sales.

Moreover, grants can also fund marketing initiatives. A well-placed advertisement or a social media campaign can elevate a business's visibility. With the right grant, a small business can transform its operations and reach new heights.

Tips for Finding the Right Grant

Finding the right grant can feel overwhelming. Here are some tips to simplify the process:

• Research Thoroughly: Use online resources and databases to find grants that match your business type and needs.

• Network: Connect with other business owners or join local business groups. They can provide insights into grants they have successfully applied for.

• Stay Organized: Keep track of deadlines and requirements for each grant application. A spreadsheet can be helpful for this.

  
  

Final Word

Square’s new Cornerstone Grant Program is a strong signal: financial services companies are realizing they need to support small businesses beyond lending. If you're running a business, now is a great time to explore grants as part of your funding strategy.

One timely grant could mean:

• New equipment

• A marketing refresh

• Staff expansion

• Or the next leap forward

  
  

All without a repayment schedule. So, why not take the plunge? Grants might just be the lifeline your business needs to thrive in today’s competitive landscape.