- Facebook's Small Business Grants program will give more than $100 million to 30,000 small businesses across the globe.
- The social network is rolling out applications by city via its small business hub, starting April 21.
- Countless small businesses across the country have been forced to close as authorities urge Americans to practice social distancing to slow the spread of the coronavirus pandemic that has already killed more than 140,000 people across the globe.
- Visit Business Insider's homepage for more stories.
Small businesses across the country are teetering on the edge of collapse because of the novel coronavirus, and Facebook is stepping in to help.
The social network will spend $100 million on grants to support over 30,000 small businesses in 30 countries, Facebook COO Sheryl Sandberg announced in March. The funds will be paid out in a combination of cash and advertising credits to businesses that need help covering operational expenses and in paying rent or their employees, Business Insider's Dominic Reuter reported.
Restaurants, coffee shops, gyms, fitness studios, and cultural institutions across the United States have closed as authorities urge Americans to practice social distancing to slow the spread of the novel coronavirus that has already killed more than 140,000 people across the globe. About 95% of Americans have been ordered to stay home in an attempt to slow the virus' spread.
"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," Sandberg wrote on Facebook March 17. "Whatever happens next, we will be working to help businesses weather this storm."
Here's how you can get a grant from Facebook for your business.
First, make sure your business qualifies for Facebook's Small Business Grants program.
Facebook released five criteria for grant applicants. To qualify, businesses must:
- be for-profit.
- employ between 2 and 50 people.
- have operated for over a year.
- have been negatively affected by the pandemic.
- be located in an area where Facebook does business. A full list of eligible areas can be found on the program's website.
Next, you should gather the documents necessary for the application.
Korrawin Khanta/EyeEm/Getty Images
Here are the documents you'll need to apply, according to the program's website:
- Federal Employer Identification Number (FEIN)
- Partnership documents
- Business license
- Proof of incorporation
- Official registration
Facebook is opening applications throughout the week based on location.
Getty Images/Alexander Spatari
Business owners in New York City, Seattle, and the San Francisco Bay Area can apply now, while entrepreneurs in other parts of the country have to wait until April 22.
The application will stay open for two weeks after it opens, Facebook said on the program's website.
Next, head to the program's official website: Facebook.com/Business.
Here is a link to the Small Business Grants page.
To get started, click the "See Available Locations" button near the bottom of the page.
The button is under the section entitled, "Who's eligible?"
You'll then be directed to a series of drop-down menus where you can select first your country, and then your city.
Facebook is opening the applications throughout the week by city.
If the application for your area isn't open yet, Facebook recommends that business owners explore its Business Resource Hub for additional resources to help them through the pandemic.
Facebook's Business Resource Hub has information on how you can stay informed on your options and in touch with customers during the coronavirus crisis.
If the application for your area is open, you'll then be directed to fill it out on Ureeka.
The application will ask business owners to explain how they would use the grant money to help both their company and their community.
Before you can fill out the actual application, you'll have to make an account with SurveyMonkey Apply.
You can also sign in through Google, Twitter, or Facebook.
Then you can access the actual application.
Facebook says on the program's website that it will "need a few weeks" to select winners once applications are in.
Facebook will also ask follow-up questions and select finalists before announcing the grant recipients, according to the program's website.
Read the original article on Business Insider