LegalZoom Gives Away $6 Million in Cash and Products to Over 18,000 Small Businesses through its "Fast Break for Small Business" Grant Program

Core Insights - LegalZoom's Fast Break for Small Business grant program has successfully awarded $6 million in grants and services to over 18,000 small business owners since its inception in October 2021, addressing critical barriers to growth for underrepresented entrepreneurs [1][2][5] Group 1: Grant Program Impact - The program received over 76,000 applications for funds, with more than 40,000 applications in 2024 alone, highlighting the pressing need for accessible capital among small businesses [2][3] - Nearly 40$1.3 million in loans to small business owners through partnerships, particularly benefiting communities of color, women, immigrants, and LGBTQ+ members [2][3] Group 2: Services Provided - In addition to grants, first-time entrepreneurs received free and discounted services such as LLC formations, compliance offerings, attorney counsel, and estate plans, which are crucial for long-term success [4] - The program aims to provide not just financial assistance but also the necessary tools and expertise to help entrepreneurs navigate challenges in their business journey [3][4] Group 3: Future Initiatives - LegalZoom plans to continue supporting small businesses through future grant programs, partnerships with non-profit organizations, and affordable service models to address ongoing challenges like inflation and market volatility [5]