Facebook Small Business Grant
Facebook small business grant is a program initiated by Facebook in mid-March of 2020 up until late August of the same year.
This is after the announcement that Facebook provided a budget of 100 million US dollars for cash grants and credits intended for the program.
How this Program Works
The primary focus of this program is to support and assist small businesses around the world that suffered due to the impact of the COVID-19 pandemic.
The cash grants bestowed to qualified business owners are intended for maintaining and continuing their business operations despite the drastic changes in the economy.
The cash grants given may vary depending on the country you live or operate your business. In the US, however, the cash grants given to qualified small businesses are about $25,000 with an additional $1,500 for ads credits.
Generally, Facebook’s program was certain to grant 30,000 qualified businesses worldwide.
Not only that this support will continue to empower the field of entrepreneurship, but it will also maintain the jobs of employed individuals because there will be a lesser probability of laying off.
Eligibility for Facebook Small Business Grant
Up to 30 countries around the world with small businesses can apply to this program. The list of eligibility requirements below applies to all countries serviceable by Facebook’s program.
Your business is eligible if you:
• Have a business used for profit;
• Have 50 or fewer employees;
• Have operated for at least a year or more;
• Have been greatly impacted by the pandemic; and
• Have a business located where Facebook operates.
How Can I Apply for this Grant?
Unfortunately, this program is no longer accepting applications, but if ever it re-opens, below is the step-by-step process for applying for Facebook’s small business grant program:
1. You will take an Eligibility survey;
2. After determining your eligibility, you will be directed to a link for the application (you cannot access the link if the program does not accept applications yet or the application period is expired);
3. Upon visiting the application site, you will be asked about the following details:
• Your basic information like name, address, and contact;
• Information about your business like location and type of business;
• Information about your employees;
• Description of where and how you will use the grant given; and
• Federal Identification Number (FEIN), business permit, and other important business documents.
4. Digitally sign your application to finish the transaction.
Cash Grants and Credits for Business Owners belonging to the Black Community
In part of Facebook’s small business grant program, they also announced that they will be allotting a part of the 40 million US dollars budget to small businesses that are owned by black people.
It was announced that this program will be able to support about 10,000 black business owners.
Eligibility of Facebook Small Business Grant for Black-Owned Businesses
If you belong to the black community and have a business, here are the eligibility requirements if you plan to apply:
• Should be a 51% black citizen;
• Should have a business operating for a year or more;
• Should be no younger than 18 years old;
• Businesses should be used for profit;
• Businesses should be registered in the United States;
• Business should have 50 employees or fewer;
• Should describe the impact of the pandemic towards the business; and
• Should submit FEIN, business permit, and other important business documents.
How Can I Apply for this Grant
Unfortunately, this program is no longer accepting applications, but if ever it re-opens sometime soon, you can review these steps to have an idea about applying for the program:
1. Visit the application portal of the program:
2. Create your Submittable account. If you have an existing application, just tick the “view application” and enter your email and password to access your application details;
3. After creating your Submittable account, just answer the questions on the application page. You will be asked for the following information:
• Your basic information;
• Employees’ background;
• Business type and description;
• Business location;
• The negative effect of the pandemic on business; and
• Where and how the money will be used.
4. Accomplish your application by digitally signing and submitting it.
The Availability of the Program
Unfortunately, the Facebook Small Business Grant program already ended its activity in late August 2020. As stated earlier, the program is no longer accepting applications at the moment.
If ever Facebook initiates another phase of this small business grant program, it is best to prepare the necessary documents for your future application.
If you have an existing application and ad credits from this program or are interested in this program, you can visit the official site of Facebook’s program for updates. You can also visit this site to be updated with upcoming programs and grants.
Additionally, if you have any further queries about your application, it is recommended that you ask the program partner that is managing the application in your locality.
What Other Business-Related Services does Facebook Offer?
Online businesses have become prevalent since most people are confined to their homes.
To support small businesses online, Facebook offers the following services:
Food order stickers
This is a service offered on Instagram for those who want to take their food business to an online level. Features include food ordering options and stickers that may help boost the scope of your food business throughout your city. This requires partnership with online food ordering platforms. Interested?
Just like food order stickers, gift cards offer a more interactive and customer-friendly service to your online business on Facebook. To learn more about this follow the steps provided on the site
Free Online Business Course
If you want to maintain or develop your online presence to attract more customers for your online business, there is a free online business course offered by Facebook that you can participate in. If you want to know more about this program then read and follow the steps provided