Facebook Offers $100 Million to Aid Small Businesses Affected by COVID

Facebook announced it is offering $100 million or ₱4.8 billion in cash grants and ad credits for small businesses affected by the pandemic.

The company announced on its “Facebook for Business” page that 30,000 businesses in 30 countries, including the Philippines, are eligible for the aid.

Facebook said in a statement “We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we’re offering USD 100M in cash grants and ad credits to help during this challenging time,”

Facebook is offering ₱55 million in grants to approximately 500 eligible small businesses in Metro Manila.

The grant would be made up of ₱67,500 in cash, and an option for ₱40,500 in Facebook ad credits, with a total value of ₱108,000.

The following documents are necessary in order to process the grants:

•  Securities and Exchange Commission (SEC) registration of business entity
• Articles of Incorporation or Partnership
• Bureau of Internal Revenue (BIR) Certificate of Registration