Poshmark awarded 12 sellers $5,000 grants and 130 sellers $500 grants, part of its commitment to give away $500,000 in grant money this year to help sellers grow their business on the social marketplace.
The company explained that the Poshmark “Heart & Hustle Community Fund” was created to give sellers an economic boost to help grow their businesses in a variety of ways – including investing in new inventory management systems, fulfilling the necessary steps to become an LLC, and paying for dedicated office and storage space to expand their operations.
Sellers who applied for the Q1 grant cycle ranged in age from 18 to 70 and represented 40 U.S. states and eight Canadian provinces. A total of 142 Q1 recipients were awarded.
Poshmark founder Manish Chandra said the fund was created to recognize, reward and empower its diverse seller community, “especially amidst joblessness and economic uncertainty left in the wake of the COVID-19 pandemic.”
In addition to economic support, Poshmark will offer various resources to help sellers “uplevel” their businesses. Each grantee will be invited to join a community network with other grant recipients and Poshmark’s Community Development team and will receive exclusive access to talks, presentations, and a toolkit resource.
Just as helpful, they will gain insight on upcoming Poshmark features.
The next round of applications will open on July 1st. Qualifications for summer grantees include the following:
- $5,000 individual grants will be given to 12 sellers who’ve sold 125 listings between April 1, 2021-June 30, 2021, based on application eligibility.
- In addition, $500 individual grants will be given to 130 sellers who’ve sold 10 listings between April 1, 2021-June 30, 2021, based on application eligibility.
To apply, all entrants must meet the following criteria:
- Be 18 or older
- Live in the U.S. or Canada (excluding Quebec)
- Be in good standing on Poshmark with a rating of 4.5 or higher
- Have an average ship time of less than 3 days
- Have shared at least 2,500 items from other Poshers’ closets
- Have made a minimum of 10 listings sold on Poshmark for the $500 grant and a minimum of 125 listings sold for the $5,000 grant within the specified time period
- Submit a completed application, including a video that captures your story.
More information is available on the Poshmark website.
