Facebook to offer $100 million boost to small businesses

As more and more small businesses shift focus and find new footing amid the COVID-19 outbreak, Facebook is looking to assist with financial relief.

Through its Facebook Small Business Grants Program, Sheryl Sandberg, Facebook COO, announced the company is offering $100 million in cash grants and ad credits up to a maximum of 30,000 eligible small businesses in the 30 countries they operate. These cash grants and ad credits, as reported by Business Insider’s Dominic Reuter, can be used by businesses to help cover operational costs, afford rent, and pay employees.

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Currently, Facebook is still creating the criteria for which businesses can be approved for this grant, however, Business Insider predicts it will be modeled similarly to the Small Business Association. For more information, check out the SBA website.

To keep up-to-date with the Facebook Small Business Grant Program, visit the website where you can sign up for email updates. In the meantime, Facebook has provided tips for small businesses such as ways to stay in touch with your customers, how to host an online event, and advice on preparing a frequently asked question list for your page.

614Now will update this story as more information becomes available.

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