During times that have been characterized as “unprecedented” and compared to “wartime” by every media worldwide, Facebook has created an equally unprecedented “rescue” program for the nation’s hardest-hit sector: small business.
Facebook grants for small business will amount to a staggering $100 million in both cash grants and Facebook ad credits. The giant social and business platform is already open to applications from small businesses in the U.S. and over 30 other countries.
Find out if your business is eligible below and don’t miss your chance to apply before applications close in your area.
Who’s eligible for Facebook grants for small business?
To be eligible for a Facebook cash grant or ad credits, entrepreneurs have to meet several conditions. You can currently apply for a grant if you:
✔ Have from 2 to 50 employees — while “small business” is a vague concept that includes companies of 500 employees or less, Facebook is taking the definition quite literally. Since home-based, family-owned and other businesses with small teams are hardest hit by COVID-19, the grants will be available strictly to the “smaller” category of small business.
✔ Have been in business for at least 1 year — this measure ensures that your budget has been affected by COVID-19 directly.
✔ Have been negatively affected by COVID-19 — every small business is affected by the pandemic differently, so Facebook makes room for that definition to meet various situations. These can include staff shortage due to the health crisis and inability to work from home, loss of business, economic difficulties due to lockdown, loss of clients, and any circumstance that has seriously affected your business, which you can back with documents.
✔ Are near a location where Facebook operates — this includes 30 countries worldwide and 28 locations in the USA.
Read more on how to keep your business safe and active during a pandemic
Terms and conditions of Facebook grants and ad credits
Over 30,000 small businesses are eligible for Facebook grants and ad credits. However, small businesses that apply will be subject to several conditions. These include:
- Background check — To ensure that the country you’re from is not subject to sanctions and that you’re not part of “any denied party listing published by United States or European Union governmental authorities.”
- Prohibited usage of grants and ad credits — Grants may not go into funding alcohol or tobacco products, recreational drugs or supplements, vaping, sale of weapons, adult products, weight loss products, cosmetic surgery products. Facebook funds and ad credits also may not be used for political and religious advertising, paycheck advances, penny auctions, and more.
How and when to apply
To apply for a Facebook grant, you will need to fill out an application form via Facebook’s partner Ureeka. You will need to provide copies of documents such as your Federal employer identification number (FEIN), business license, official registration, and proof of incorporation.
Facebook grants are already open in some states (and countries) but still pending in others. If you live in or near one of the Facebook locations, please check now whether Facebook grants for small business registration has already opened in your state or country. Registration will be open for two weeks in each area and review will take several more weeks.
