Boost with Facebook: Small Business Grants

On April 16, 2020 the Small Business Administration (SBA)  announced that it ran out of funding to process any more small business loans through the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program (EIDL) that were created under the CARES Act. While additional funding is being negotiated, small businesses are looking elsewhere to keep afloat.

Facebook is offering $100M in cash grants and ad credits to help small businesses experiencing disruptions resulting from the global outbreak of COVID-19. Applications are now open for New York City, Seattle and the San Francisco Bay Area[1].

To be eligible for a Facebook grant, an applicant must: (i) be a for-profit company, (ii) have between 2 and 50 employees, (iii) have been in business for over a year, (iv) have experienced challenges from COVID-19, and (v) be in or near a location where Facebook operates.

As part of the application, the applicant must explain how it will use grant funds to make an impact on its business or the community (examples include: keeping a workforce going strong, helping with rent costs, connecting with more customers, and covering operational costs).

Click here for details about the Facebook Small Business Grants Program.

[1] Applications for all other eligible US cities will be available on April 22, 2020.