As communities restrict their movements around the globe in an effort to curb the rising numbers of coronavirus disease infection, many businesses have suffered, particularly the small and medium. Despite the government’s aid, many, especially those who’ve just opened up their businesses, could not continue their operations because of the overwhelming losses.
To help alleviate struggling enterprises in these challenging times, Facebook has offered cash grants and some ad credits to small business owners.
Facebook’s small business grants program is designed to aid up to 30,000 eligible small businesses in more than 30 countries.
For small business owners to be eligible to apply, their business must:
- Have between 2 and 50 employees
- Have been in business for over a year
- Have experienced challenges due to COVID-19
- Be in or near a location where Facebook operates
Facebook will be offering approximately Php 55,000,000 in grants to approximately 500 eligible small businesses. Each grant amounts to Php 108,000 comprising of Php 67,500 in cash and Php 40,500 in optional ad credits to help during this challenging time. (All numbers are approximate).
Please note that small businesses do not need to have a Facebook presence to apply. Instead, they must be physically located in the country to access the application form.
They will also need the following documents:
- Securities and Exchange Commission (SEC) registration of your business entity
- Articles of incorporation or partnership
- Bureau of Internal Revenue (BIR) certificate of registration
- Business permit
- NBI clearance
The application must be accomplished by the company director or a partner in the registered business partnership.
Deadline has been extended until November 2, 2020.
For more inquiries, visit Facebook/Small-business-grants