Klarna launches Small Business Impact Initiative to help small and medium-sized businesses

According to a recent report by Facebook and the Small Business Roundtable, 22% of US small businesses were closed in February 2021, nearing the pandemic peak of 23% in May 2020.

Of those impacted, minority-owned businesses suffered the greatest losses, with 27% of minority-led SMEs reporting closures versus 18% of other businesses. Additionally, 25% of female-led businesses reported closures, a disproportionate amount compared to other businesses.

Klarna will select 100 small businesses from the applicant pool, focusing on those that were most impacted by the pandemic, including minority and female-led businesses, to receive fee-free payment services and marketing exposure across Klarna’s ecosystem.

“Small businesses are the lifeblood of the US economy, and it’s no secret they have been hit especially hard by the COVID-19 pandemic…