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Facebook offers $100 million in cash grants, ad credits for eligible small businesses

Through Facebook's Small Business Grants Program
Facebook cancels F8 Developers Conference, citing coronavirus outbreak
Posted at 2:26 PM, Mar 23, 2020
and last updated 2020-03-23 14:26:16-04

(WTXL) — Facebook is doing its part to help small business owners impacted by COVID-19 by offering up to $100 million in cash grants and ad credits for thousands of businesses across the world.

Through the program, Facebook is aiming to help with businesses with rent costs, cover operational costs, connect them to more customers and keep their workforces intact.

Right now, Facebook is still in the beginning stages of the program and have yet to open up their applications yet. However, they are urging people to sign up for updates so they can receive information as it becomes available.

They say they'll be accepting applications in the weeks to come.

"We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19," Facebook wrote on their website page dedicated to businesses. "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 social media giant says that up to 30,000 small businesses will be eligible to receive cash grants or ad credits. They say they will be releasing more information about which businesses are eligible at a future date.

To sign up for updates from Facebook, click here.

Facebook has also created a Business Resource Hub to help businesses connect to much-needed resources during these uncertain times. You can access that hub here.

Global Coronavirus Tracker:

See map here
Data from The Center for Systems Science and Engineering at Johns Hopkins University.