Regardless of how the coronavirus pandemic plays out in the upcoming weeks, it has already been brutal for small businesses, with some businesses forced to close for public safety, while others are taking big hits in both revenue and access to credit.
Today Facebook announced that it’s creating a $100 million grant program for small businesses. Applications aren’t open as of now, but Facebook says the program will include both ad credits and cash grants that can be spent on costs like paying workers and paying rent. The grants will be available to up to 30,000 businesses in the multiple countries where Facebook operates.
Facebook has also created a Business Hub with tips and resources for businesses trying to survive during the Covid-19 outbreak.
“We want to do more,” said COO Sheryl Sandberg in a Facebook post. “Teams across our company are working every day to help businesses. We’re looking at additional ways to host virtual training – and will have more to share in the coming weeks – and we’re finding more ways to help people connect and learn to use technology through Blueprint, our free e-learning training program.”
In addition, Facebook also announced today that it’s partnering with the Lenfest Institute for Journalism and the Local Media Association to offer a total of $1 million in grants for U.S. and Canadian newsrooms that need more resources to properly cover the Covid-19 pandemic. These individual grants will be for up to $5,000.