Social media giant Facebook has announced a $100 million program for small businesses that have been impacted by the growing cases and spread of coronavirus. These businesses include the local restaurants and gyms that have been shut down by local governments around the world to contain the spread of coronavirus.
In a blog post announcing the grants, Facebook said, “We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time.”
Facebook has said that the grants will be available for 30,000 eligible small businesses in over 30 countries. The sum announced by Facebook averages $3,333 per business.
Facebook said that it would start accepting applications in the coming weeks for the fund that would help businesses cover their rent and operational costs.
