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Facebook Creates $100 Million Grant Program to Assist Small Businesses Dealing With COVID-19 Impact

The COVID-19 pandemic is difficult and troubling in some ways, and the truth is that it is solely going to worsen. With a vaccine nonetheless months away, and the virus nonetheless spreading into new areas, the chances are we’ll be coping with this for months, which may have a significant impression on many sectors and companies.

To assist ease this burden, at the very least for some organizations, Fb has this week announced a brand new $100 million grants program to help 30,000 SMBs, in 30 nations, supporting the communities through which Fb and its groups function.

As defined by Facebook COO Sheryl Sandberg:

“Small companies are the heartbeat of our communities, and most of the individuals who run these companies are closely affected by the disaster – particularly as increasingly more folks sensibly keep house. The longer the disaster goes on, the larger the chance to small companies and to the livelihoods of their house owners and workers. That’s why immediately I’m asserting that Fb is investing $100 million to assist 30,000 small companies in over 30 international locations the place our workers stay and work.”

Fb has created a devoted web site for the brand new program here:

, Facebook Creates $100 Million Grant Program to Assist Small Businesses Dealing With COVID-19 Impact, TornCRM

So, who’s eligible for funding? Properly, that is not 100% clear as but.

Fb says that it’ll reveal extra info, and start taking purposes for the grants, within the coming weeks. Proper now, companies can sign-up to get extra info on this system because it evolves by tapping the sign-up button on the website.

Along with grants, Sandberg additionally notes that Fb’s exploring a spread of different choices to assist companies navigate the COVID-19 outbreak, and keep afloat amid its many challenges.

In an effort to present additional help, Fb has:

  • Launched a brand new Business Resource Hubwhich goals to supply help for all companies affected by the coronavirus outbreak by connecting them to related instruments and recommendation
  • Begun work on a brand new digital coaching program to help companies working in altered circumstances due to the COVID-19 lockdowns.
  • Mapped a brand new technique on the way it can host devoted, digital coaching periods with companies all around the world
  • Begun work on a brand new set of Facebook Blueprint supplies, with a specific concentrate on distant work and managing distant groups

Along with this, the Fb Journalism Challenge can also be partnering with the Lenfest Institute for Journalism and the Native Media Affiliation to supply $1 million in grants to local news organizations that are protecting COVID-19 within the US and Canada, additional serving to to prop-up native communities and maintain related information and updates flowing.

In fact, Fb introduced in $71 billion in revenue in 2019, so $100 million will not be an enormous quantity by comparability. However will probably be vastly significant for those who get it – once more, the COVID-19 scenario is prone to drag on for months, and lots of small companies, particularly, can be closely impacted. 

If Fb’s grants may help maintain even a few of them going, that may be a huge win. 

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