Facebook Is Offering $100 Million to Help Small Businesses


Facebook has announced it is offering $100 million in cash and advertising credit for up to 30,000 small businesses affected by the global coronavirus outbreak, CNBC reports.

The social giant hopes that the money, which will amount to approximately $3,333.00 per recipient, will help businesses with rent costs, workforce and operational costs, and maintaining customer-facing communication.

In a blog post, Facebook said, “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.”

The grant application system is not open yet but Facebook will begin taking requests from companies in 30 over countries in the next weeks. In the meantime, hopefuls can sign up for updates here.