Facebook Launches $100M Program to Support Small Business During COVID-19

Let’s face it, anytime you hear any news about Mark Zuckerberg and his Facebook adventures, it’s not always positive. But recently, Facebook has been cast in some positive light. With the recent outbreak of COVID-19 spreading across the world like wildfire, many businesses of all backgrounds have been forced to either make huge budget cuts, resulting in many loyal employees being laid off, or even just shut down operations and have to close the business entirely. With all of these small businesses shutting down, countries around the world are witnessing huge economic downfalls right before their eyes.

How Facebook Supports Small Business?

On March 17th, 2020, Facebook made an exciting announcement for small business owners. The social networking company announced that it has created a $100 million program that will benefit small business owners whose businesses are being disrupted by COVID-19, with cash grants and ad credits.

Statement by Facebook:

“We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time.”

Who Is Eligible For These Grants?

At the moment, there is not much information on who is eligible for these grants. What we do know is that the grants will be available for up to 30,000 small businesses around 30 different countries. This would average out to around $3,333 for each company that becomes eligible to receive a grant. This extra money will ultimately help small businesses that have seen huge drops in traffic and product sales.

How To Apply

Facebook will be accepting applications in the following weeks, but as of right now, users are only able to sign up for updates which is highly recommended so you don’t miss out on any news regarding applications and future grants.

Other Resources

Facebook has also recently released a Business Resource Hub in direct response to the COVID-19 pandemic and its effect on small businesses. The Business Resource Hub contains all sorts of helpful tips that small business owners can take in order to keep their businesses running through this pandemic.

Facebook Supports Small Business During COVID-19

With this in mind, it’s safe to assume that Facebook cares about its users and the world they live in. If you are a small business owner whose business is being directly impacted by COVID-19, make sure you are staying up to date with Facebook and its grant program. If your business is not being affected in any way by COVID-19, be courteous to the businesses that are actually struggling because of the pandemic and leave the applications to them.