Facebook is granting $100 million (P4.9 billion) worth of cash aid and ad credits to small businesses striving to survive the pandemic. Launched last March 17, the program aims to provide assistance to 30,000 eligible small businesses in over 30 countries worldwide, including the Philippines.
According to Facebook's blog post, grants would be made available to small businesses within Metro Manila, where Facebook's regional office is located. They will offer an approximate total of P55,000 grants across 500 micro-enterprises in Metro Manila. Each grant amounts to P108,000. P67,500 will be given as cash, while P40,500 would serve as optional ad credits.
Those who are interested in applying must have between two to 50 employees, have been operational for more than a year, have experienced challenges due to COVID-19, and with an office situated near a location where Facebook operates.
You will also need the following requirements:
- Securities and Exchange Commission (SEC) registration of your business entity
- Articles of Incorporation or Partnership
- Bureau of Internal Revenue (BIR) Certificate of Registration
Complete requirements must be submitted by a director or partner of the registered business. Your business does not need to have a Facebook account to apply.
Over the years, Facebook has been helping small businesses thrive by offering low-cost advertising packages on their platform. The social media giant commits to providing an even greater amount of assistance to these groups in these trying times.
"Small businesses are the heartbeat of our communities, and many of the people who run these businesses are heavily affected by the crisis – especially as more and more people sensibly stay home," Facebook Chief Operating Officer Sheryl Sandberg said on her Facebook page. "The longer the crisis goes on, the greater the risk to small businesses and to the livelihoods of their owners and employees,"
Application for Manila-based businesses will end on Oct. 19, 2020. Click here to apply.
Banner image from Tim Bennett and Solenn Feyissa on Unsplash