Pay It Forward Live will showcase entertainment's biggest names stepping up and streaming shows to help the small businesses through the Covid-19 crisis.
The series will also include music, gaming, comedy and more.
Each episode, an artist will perform for 30 minutes creating intimate concerts from their homes, not only giving viewers a way to connect during this time of social distancing but the chance to support their favorite small business right now.
Verizon will donate $2.5 million to Local Initiatives Support Corporation (LISC), a national nonprofit that has invested $20 billion to fuel economic opportunity for people and communities across America.
The company says viewers will be encouraged to tag their favorite local businesses and make a purchase in advance for when the crisis is over and businesses reopen.
As consumers engage, and the series evolves, Verizon will unlock an additional $2.5 million in funds, bringing the total donation to a potential $5 million.
LISC will use the funds to provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19, especially entrepreneurs of color, women-owned businesses and other enterprises that don't have access to flexible, affordable capital in historically underserved communities.
The New York-based non profit will also launch an online process for small businesses to submit applications for grants. Applications will be reviewed and then entered into a lottery. The grants are designed to help business owners fill urgent financial gaps - from paying rent to meeting payroll - until they can resume normal operations or other financing becomes available.
"Small businesses are being impacted in extraordinary ways as we all fight against the spread of COVID-19," says Verizon's Chairman/ CEO, Hans Vestberg in a statement. "These companies provide employment opportunities, goods, services, and gathering places that are the soul of local communities. The funds from Pay it Forward Live will help ensure these businesses survive this unprecedented time while also giving consumers the opportunity to do what they can now to show support."
The funds from Pay it Forward Live are in addition to Verizon's combined $13 million donation to nonprofits directed at supporting students and healthcare first responders, including (end- child hunger organization) No Kid Hungry, the American Red Cross, the Center for Disaster Philanthropy (CDP) COVID-19 Response Fund, Direct Relief, and the COVID-19 Solidarity Response Fund in support of the World Health Organization (WHO)'s global response.
Verizons states additional artists and partners for Pay It Forward Live will be announced at a later date.
2020 Frame Skate x Nike SB Dunk Low "Habibi" Chile Red/White-Lucky Green-Black CT2550-600 – With Sneaker