Facebook Announces $100M in Grants for Small Businesses Impacted by Coronavirus
Facebook announced a $100 million program to help small businesses as governments throughout the country urge local gyms and restaurants to close their doors to slow the spread of COVID-19. In a blog post announcing the grants, 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 $100 million in cash grants and ad credits to help during this challenging time.” Facebook said the grants will be available for up to 30,000 eligible small businesses in over 30 countries. That would be an average of $3,333 per business.
Total Retail's Take: During trying times such as these, it's important to take a step back and recognize the good that people and companies are doing to help those in need. In the midst of all the negativity, there are examples of good that we can lean on for inspiration. One such example is Facebook's announcement that it will be awarding $100 million in grants to small businesses, which figure to be most impacted by closures from the coronavirus pandemic. And truth be told, Facebook could use the positive press. With more state and local governments requiring all non-essential businesses to close their doors in an effort to prevent the spread of coronavirus, small business owners and their employees are left trying to figure out how they're going to survive. An infusion of cash can help them to pay rent, make payroll, and keep their businesses afloat. Good for Facebook, as well as others that are trying to make a positive impact during these unprecedented times.