April 23, 2024

Tishamarie online

Specialists in technology

Facebook investing $100 million in small businesses hit by coronavirus


Facebook is looking to help small businesses amid the coronavirus pandemic.

Angela Lang/CNET

As the coronavirus pandemic continues to impact communities around the world, on Tuesday morning Facebook announced that it will be offering $100 million in cash grants and ad credits for “up to 30,000 eligible small businesses in over 30 countries where we operate.”

“People across the globe are stepping up, rising to the enormous challenge in front of us,” COO Sheryl Sandberg wrote in a post on the platform announcing the news. “We want to do our part too.”

“Small businesses are the heartbeat of our communities, and many of the people who run these businesses are heavily affected by the crisis – especially as more and more people sensibly stay home,” continued Sandberg. “The longer the crisis goes on, the greater the risk to small businesses and to the livelihoods of their owners and employees.”

According to its small business website, the goal of the grant program is to help small businesses with rent and operational costs, supporting employees and connecting with customers. 

The news is the latest cash contribution from Facebook during the coronavirus crisis. Last week the company announced it was pledging $20 million towards global relief efforts

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