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The winner of last year's Small Business Grant Competition was Darn Good Yarn, a small business based in Sebec, Maine and founded by Nicole Snow in 2008. (Photo: Business Wire)

FedEx has launched its second nationwide small business grant contest which will award a total of $50,000 to 10 deserving U.S. small businesses. The grand prize winner will receive a $25,000 grant, four first place winners will each receive $5,000 and five second place winners will each receive $1,000.

The winner of last year's Small Business Grant Competition was Darn Good Yarn, a small business base ...

The winner of last year's Small Business Grant Competition was Darn Good Yarn, a small business based in Sebec, Maine and founded by Nicole Snow in 2008. (Photo: Business Wire)

Small businesses—for the contest, those having fewer than 100 employees—will compete for the grants by completing a profile to be voted on by Facebook users. The contest is designed for participants to promote their profiles among their own customers and fan bases throughout their social media networks to generate votes for their respective businesses. The number of votes a small business receives will boost its visibility in the contest and is one factor FedEx will consider when determining the winners.

The grant contest registration is now open at http://fedex.com/grantcontest and will remain open until 11:59 p.m. ET on Feb. 9. To register, participants must upload their company logo with three photos that reflect their business, enter their contact information and tell FedEx about their business and how they would utilize the grant to enhance their business.

All accepted entries will be posted to the contest website.

Voting will begin at 12 a.m. ET on Jan. 16 at http://fedex.com/grantcontest and close at 11:59 p.m. on Feb. 23. On Feb. 26, FedEx will announce the top 100 finalists chosen to move on in the contest. These finalists will be determined by the number of votes they receive and their contest profile.

The top 100 finalists will then be asked to answer one of three questions in an essay format. FedEx will review the essays and select the winners based on their essay submission, contest profile and number of votes they receive from Facebook users. The top 10 small businesses—including the grand prize winner—will be announced on March 24.

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