Verizon just pledged $5 billion to change how small businesses grow
The carrier's new plan includes grants, faster payments and a shot at real growth.
Verizon isn't slowing down when it comes to supporting small businesses in the US. After launching the industry's first GenAI Assistant for small companies and partnering with global players – including a satellite provider – to boost IoT connectivity, the carrier is back with even more news.
This time, Verizon is committing a massive $5 billion over the next five years to invest in US small business suppliers. The new initiative, called the Small Business Supplier Accelerator, is designed to help veteran-owned and other American small businesses get into Verizon's supplier network and partner with other big companies, too.
The Accelerator builds on Verizon's long-standing support for small businesses and their communities. Beyond just spending $5B, the program also includes training and support tailored for small businesses – things like faster payment terms, reduced insurance requirements and more flexible contracts. The whole point is to make it easier for small businesses to compete and grow by working directly with large corporations.
On top of that, Verizon is continuing to support its Small Business Digital Ready program – a free online platform that gives small businesses access to over 50 on-demand expert-led courses, personalized coaching, networking opportunities and funding options.
And yes, that includes another round of Small Business Digital Ready grants. In partnership with LISC (Local Initiatives Support Corporation), small businesses that are Digital Ready members and complete at least two resources can apply for a $10,000 grant. The deadline is June 30, 2025, at 11:59 pm PT.
Since 2021, Verizon has given out $13.5 million in grants and supported nearly 500,000 small businesses through its Digital Ready program – already getting closer to its goal of reaching one million small businesses by 2030.
At the end of the day, Verizon's efforts go well beyond just money. The company is focused on giving small businesses the tools, training and tech they need to grow, adapt and stay competitive in today's digital world.
This time, Verizon is committing a massive $5 billion over the next five years to invest in US small business suppliers. The new initiative, called the Small Business Supplier Accelerator, is designed to help veteran-owned and other American small businesses get into Verizon's supplier network and partner with other big companies, too.
Verizon recognizes that small businesses are the backbone of the American economy and a staple in our local communities. Our long-standing commitment and investment in small businesses aims to empower local businesses and communities with financial, technology and business expertise and resources to advance economic growth and foster job creation.
– Hans Vestberg, CEO, Verizon, May 13, 2025
And yes, that includes another round of Small Business Digital Ready grants. In partnership with LISC (Local Initiatives Support Corporation), small businesses that are Digital Ready members and complete at least two resources can apply for a $10,000 grant. The deadline is June 30, 2025, at 11:59 pm PT.
Since 2021, Verizon has given out $13.5 million in grants and supported nearly 500,000 small businesses through its Digital Ready program – already getting closer to its goal of reaching one million small businesses by 2030.
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