Facebook Inc. has disclosed plans to offer $100 million in grants and ad credits, as the novel Coronavirus ravages around the globe.
In order to address the economic impacts of the pandemic, Facebook will make the grants and ad credits available for up to 30,000 Small Medium Enterprises (SMEs), in over 30 countries.
It was gathered that the majority of the beneficiaries would get a cash grant.
Facebook will disclose any moment from now, how businesses can apply for the assistance regarding the offers.
In a post made available to the public, Facebook’s Chief Operating Officer, Sheryl Sandberg, said the economic disruption poses a severe risk to small businesses.
“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.”
Sandberg said companies would be able to use cash to pay rent, cover operational costs or run advertising on Facebook. She added that Facebook was going to make it easier for small businesses to get training and support from its teams.