Facebook Gives $100m To Small Biz To Offset Impact Of Coronavirus
SAN FRANCISCO: Facebook plans to award US$100 million in cash grants and ad credits for up to 30,000 small businesses in more than 30 countries to address the economic impact of the coronavirus outbreak.
The majority will be in cash grants and Facebook will disclose more details about how businesses will be able to apply for assistance.
Facebook says it’s giving out the money because the economic disruption poses a severe risk to small businesses. Companies given the cash will be able use it to pay rent, cover operational costs or run advertising on Facebook.