On Tuesday, May 17th, Facebook announced an upcoming grant program aimed to help SMB retailers during COVID-19. It will consist of $100 million in cash grants and ad credits for up to 30,000 eligible businesses. Facebook COO Sheryl Sandberg expanded on the importance of this initiative in her Facebook post:
Small businesses are the heartbeat of our communities, and many of the people who run these businesses are heavily affected by the crisis …We’ve listened to small businesses to understand how we can best help them. We’ve heard loud and clear that financial support could enable them to keep the lights on and pay people who can’t come to work.
The program is aimed to help businesses cover things like rent and operational costs, as well as connecting with more customers and keeping the workforce strong. For those interested in applying, stay tuned, as more details will be available in the upcoming weeks. You can also sign up for updates directly from Facebook here.
In the meantime, Facebook has updated their Business Resource Hub with a page specific to managing and building resilience during this ordeal. It includes ideas for staying in touch with customers (like pinning your important updates) and other concrete steps for the unexpected challenges we’re facing.