Facebook has announced its plans to award $100 million in cash grants and ad credits to help small businesses affected by the coronavirus outbreak. The social network said the grant will be available for up to 30,000 small businesses in over 30 countries to address the economic impact of COVID-19.
The majority will be in cash grants and Facebook will disclose more details soon about how businesses will be able to apply for assistance. Facebook will start accepting applications in the coming weeks. The program can help businesses with rent and operational costs, maintaining the workforce and connecting with customers.