Facebook has said it will invest $ 100 million in cash assistance and advertising to help small businesses affected by coronavirus.
And as Business Insider writes, the Telegraph reports, the applications will open next week for the Facebook money aid program for small businesses struggling with the economic impact of coronavirus. The company has also pledged $ 40 million for US businesses as part of its $ 100 million initiative.
“Small businesses are the heartbeat of their communities,” he said. We are determined to help and we know that the future will demand much more from all of us, “wrote Chief Operating Officer Sheryl Sandberg. As it is known, grants will give priority to investments in businesses owned by women and minorities.
To be eligible for assistance, companies must have two to 50 employees and must have been in business for more than a year. Facebook says it is working with more than 30,000 businesses in over 30 countries and that the program will not be limited to a single region.
Applications will open in the coming weeks, and businesses from around the world are invited to register. Businesses do not need to be active users or members of Facebook or its subsidiaries, such as Instagram or WhatsApp, to be considered for help, said a spokesman, writes BI.
Otherwise, Facebook days ago announced a $ 100 million program to help small businesses around the world. A Facebook move comes after governments in many parts of the world have called for a halt to the activities of some businesses to slow down coronavirus pandemics.
In a post announcing the grants, Facebook said, “We know your business may have experience with interruptions coming from the global explosion of COVID-19. We’ve heard that a little financial support can take a long time, so we’re offering $ 100 million in cash and advertising loans to help with this challenging time. ” As CNBC wrote, the program can help businesses rent and operating costs, while maintaining workforce and customer contact.