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Facebook announces a $ 100 million program to support small businesses affected by the coronavirus

March 18, 2020

The company will begin receiving applications for the scholarships in the coming weeks.

2 min read

Facebook this week announced the launch of a $ 100 million scholarship program to support small businesses affected by COVID-19 .

Facebook announces a $ 100 million program to support small businesses affected by the coronavirusFacebook announces a $ 100 million program to support small businesses affected by the coronavirus

The grants that Mark Zuckerberg's social network will offer will be available to up to 30,000 eligible small businesses in more than 30 countries . In other words, according to CNBC , each business would receive $ 3,333 (more than 79,000 Mexican pesos at the current exchange rate).

The idea of ​​Facebook is to support businesses such as gyms, coffee shops and others that will have to stop their operations due to the advance of the coronavirus pandemic. Through its blog , the company noted, “We have heard that a little financial support can go a long way, so we are offering $ 100 million in cash grants and advertising credits to help during this difficult time.”

The company said it wants this money to help companies that must stop due to the coronavirus to cover their operating costs (such as rent or payroll).

Facebook will begin receiving scholarship applications in the coming weeks. You can subscribe to the page to receive information on how to access the scholarship: https://www.facebook.com/business/boost/grants

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