Wave of New Small Business Grants in 2025: Progressive, Verizon, SoFi, and Galaxy Lead the Charge

By Joseph Provence, a news contributor who writes about technology, small business, and e-commerce.

July 2,2025 1:30 PM MST

A wave of new small business grant programs is sweeping across the U.S., offering millions in funding opportunities to help entrepreneurs fuel growth, improve digital readiness, and recover from economic setbacks. Major corporations including Progressive, Verizon, SoFi, and Galaxy are expanding their efforts to support small business owners through well funded grant initiatives with national reach.

Progressive’s “Driving Small Business Forward” Grant Returns

In a push to empower minority owned businesses, Progressive Insurance has reopened applications for its Driving Small Business Forward Grant. This year, Progressive is committing $1 million in total funding, offering $25,000 grants to 40 small businesses. The program focuses on entrepreneurs in the transportation industry, including trucking, rideshare, and delivery sectors, with a strong emphasis on Latino-owned operations.

Since its inception, the grant has awarded over $2 million to more than 80 small businesses across the country. Applications are open through August 15, 2025.

Verizon Small Business Grant Targets Digital Growth

The Verizon Small Business Digital Ready Grant is another standout opportunity in 2025. In partnership with LISC and Next Street, Verizon is offering $10,000 grants to eligible small businesses who complete free online courses through its Digital Ready platform.

As of mid-2025, over 300,000 small business owners have used the platform, with more than $12 million distributed in grants since its launch. This year's round places a special emphasis on women- and veteran-owned businesses and aims to bridge the digital divide in underserved communities.

SoFi’s “Small Business Big Dreams” Sweepstakes Offers Financial Relief

SoFi is making headlines with its Small Business Big Dreams Sweepstakes. Rather than a traditional grant, SoFi offers monthly awards of $10,000, selected from applicants who share how funding would impact their business journey.

This sweepstakes style approach has gained traction for its simplicity. As of June 2025, SoFi has awarded over $300,000 in business funding to more than 30 entrepreneurs nationwide. Applicants are encouraged to enter through SoFi’s dedicated grant hub.

SoFi also sponsors a broader initiative, SoFi Grants for Entrepreneurs, offering $5,000 to $20,000 grants in quarterly rounds, supporting business development, education, and sustainability efforts.

Galaxy Grants Target Underserved Startups

The Galaxy Grant program has expanded rapidly in 2025. Offered in partnership with Hidden Star, the Galaxy Grants for Small Businesses provide $2,750 microgrants to women and minority-owned startups. These grants aim to close early-stage funding gaps, particularly for businesses with less than $25,000 in annual revenue.

The Galaxy Grant application is streamlined to support first-time grant seekers, and over 1,000 applicants per month are currently applying. Since 2021, Galaxy has issued more than $1.5 million in funding, with demand growing each cycle.

Why These Small Business Grants Matter

According to the U.S. Small Business Administration (SBA), small businesses represent 99.9% of all U.S. businesses and employ nearly 62 million people. However, over 80% of small businesses report difficulty accessing capital, especially those owned by women, veterans, and minorities.

Grants like Progressive Driving Small Business Forward, the Verizon Small Business Grant, SoFi Business Grant, Galaxy Grants, and the Digital Readiness Grant are filling a critical funding void while helping entrepreneurs compete in a fast-changing digital economy.

With applications currently open or opening soon, 2025 is shaping up to be a landmark year for small business grants. Entrepreneurs looking to grow or stabilize their operations should apply promptly before deadlines close.

For more information on current grant opportunities, visit the official sites for Progressive, Verizon Digital Ready, SoFi Grants, and Galaxy Grants.