Facebook COO Sheryl Sandberg announced that the company will offer $100 million in cash grants and ad credits for up to 30,000 eligible small businesses that need assistance in staying afloat during the coronavirus (COVID-19) crisis.
Facebook outlined that more than 140 million small businesses use its services for marketing, the vast majority of which do not pay anything. Sandberg announced the program in a Facebook post. “We’ve listened to small businesses to understand how we can best help them,” she wrote in part. “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.”
Facebook also has added information to its Business Resource Hub site about managing business operations during the COVID-19 pandemic.