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Mandel is a host on the platform, which is dedicated to digital shopping. Any small business owner can set up an account channel in order to reach current and potential customers, talk about their business and sell their product.
Mandel, who has posted to his over 850,000 Twitter followers about his campaign with Talk Shop Live, says he will choose one or more businesses to feature on his own page on the first and 15th of the month of April and May.
"I just think this is the ultimate stimulus package," Mandel told FOX Business' Neil Cavuto on "Coast to Coast" Thursday.
"If you're an entrepreneur or you have a business and you're being shut down by this horrible crisis were all dealing with right now, there is a ray of sunshine and that is to go to Talk Shop Live," he added. "If you go to my channel on Talk Shop Live and submit a 60-second pitch of you, your business and your product this week because I want to get more than just one.
"I'm going to go back to my game show roots and do something called 'sold out,' and I'll have two or maybe even more than that businesses on at the same time, and we'll see who can sell the most goods the fastest and just have some fun with it."
A portion of the proceeds from Talk Shop Live's Save Small Business campaign will be donated to No Kid Hungry, an organization dedicated to ending childhood hunger in America.
Mandel joined comedians Adam Sandler and Whitney Cummings in offering a Laugh Aid livestream Saturday. The six-hour event on March 28 focused on raising money for Comedy Gives Back's COVID-19 Emergency Relief Fund, which will assist comedians struggling during the pandemic. Over $300,000 has been raised.