Facebook to create $100 million grant program for Small Businesses

Small Businesses may be experiencing disruptions resulting from the global outbreak of COVID-19 with most of them being forced to close for public safety, while others are taking a big hit in both revenue and access to credit.

In line with this Facebook has announced that it’s creating a $100 million grant program for small businesses.

Applications aren’t open yet, but the company says this will include both ad credits and cash grants that can be spent on operational costs like paying workers and paying rent.

It will be available to up to 30,000 businesses in the 30-plus countries where Facebook operates.

“ Small businesses are the heartbeat of our communities, and many of the people who run these businesses are heavily affected by the crisis – especially as more and more people sensibly stay home. “ said COO Sheryl Sandberg in a Facebook post. “The longer the crisis goes on, the greater the risk to small businesses and to the livelihoods of their owners and employees.”

She also added, “We want to do more. Teams across our company are working every day to help businesses. We’re looking at additional ways to host virtual trainings – and will have more to share in the coming weeks – and we’re finding more ways to help people connect and learn to use technology through Blueprint, our free e-learning training program.”

To further aid struggling businesses around the nation, last week the company also announced their Business Hub, which features resources and recommendations to help small businesses stay connected to customers and keep their business on track.

It also includes direct access to credible and accurate information about Covid-19 to help businesses stay informed.

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