Klarna, one of the world’s leading global payments and shopping services, has announced a new initiative aimed at helping small and medium-sized businesses (SMBs) that were most impacted by the pandemic get back on their feet. The finch company is donating $4.5 million in payment and media services to 100 small businesses across the nation.
The Small Business Impact Initiative is in honor of Small Business Month and will see Klarna give away $40,000 worth of free media services to each of the SMBs selected, as well as free payment services for one year. Klarna cites a recent report by Facebook and the Small Business Roundtable that in February 2021, 22% of small businesses in the country were closed. The research also found that 27% of minority-owned businesses suffered the greatest losses, and 25% of female-led businesses were reported closed.
Klarna says its goal is to leverage its network of 16 million U.S. shoppers and over 250,000 global retail partners to unlock a new customer base and gain greater exposure and product visibility for the SMBs’ offerings. If your small business has been affected by the pandemic, you can apply to be considered for Klarna’s Small Business Impact Initiative here.