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#COVID19 – Facebook announces $100M Financial Grant to Cushion 30,000 Small Businesses

If you are a small business, the current times must be one of the most trying times for your business to go through. The COVID19 pandemic is threatening to keep not just your customers away, but also the employees who help work get done around the office.

That automatically spells doom for your business, with no customers coming, no sales will be made; with no employees coming in, there will be nothing to sell. However, the gravity of the coronavirus outbreak calls for social distancing, and hopefully, we can wait it out until the dark cloud of the virus passes away.

Facebook financial kitty

As a small business, you will be glad to learn that there are a few organizations out to help you mitigate losses from this COVID19-induced market slow down.

Related: How to apply for the USA’s SBA Economic Injury Disaster Loan Support for Small Business

In addition to the US government’s financial boost, small businesses can also look forward to a financial boost from the social media giant Facebook. Although Facebook is yet to start receiving application to the grant, it says the money will go towards ad-credits on its platform, and will also be given out as cash grant.

Grant to Pay Rent, Salary, Restocking

Businesses that successfully secure the cash grant from Facebook and use the money towards paying for their staff wages and rent. No doubt, a much-needed aid especially for businesses that are currently experiencing a slow-down in demand for their products or services.

Facebook is targetting 30,000 small businesses across 30 countries where it is operating. Eligible businesses will need to make an application to receive the grant from Facebook, once the company opens applications.

We want to do more. Teams across our company are working every day to help businesses. We’re looking for 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 program.” – said Sherly Sandberg, COO at Facebook.

For more details on eligibility and how to apply for the Facebook grant, follow this link.

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