Facebook Helps Small Businesses With $40M Grant Program

Facebook helps small companies rocked through the coronavirus with huge amount of money in grants and ad credits, however the window to use is closing fast.

The social networking behemoth unveiled its Small Company Grants Program March 17. It offers $100 million to qualifying small companies across a large number of countries. Information regarding this program and eligibility trickled out during the period of per month.

Here’s our coverage from the coronavirus outbreak, which we are updating every single day.

Inside a Facebook publish, Chief Operating Officer Sheryl Sandberg later specified that $40 million from the money is earmarked for 10,000 U.S. companies that operate “in 34 places where our employees live and work.”

The utmost grant amount is $4,000 ― $2,500 in cash and $1,500 in optional Facebook ad credits.

Application deadlines by location:

  • New You are able to City and San antonio – May 2.
  • San fran – May 4.
  • Other qualified U.S. locations (the following) – May 6.

Note: The applying portal lists a May 8 deadline for those applications, no matter location. Facebook didn’t clarify. Safe, apply earlier than later.

Who’s Qualified for Facebook Small Company Grants?

The greatest two qualifiers for small companies are size and placement.

To become qualified to use, your for-profit business should have:

  • Between 2 and 50 employees.
  • Been around for over a year.
  • Experienced challenges because of the coronavirus.
  • An area in or near a town where Facebook comes with an office.

The dimensions requirement rules out many freelance companies, and also the locations are mainly in big metropolitan areas or urban centers. 

While Sandberg pointed out 34 locations, the grant application page protuberances them in to the following 24 areas ― some including surrounding county and metro areas and a few not:

  • Altoona, Iowa (Polk County)
  • Ashburn, Virginia (Loudoun County)
  • Atlanta, Georgia (Fulton County)
  • Austin, Texas (Travis County)
  • Boston metro area
  • Chicago (Prepare County)
  • Dallas (Dallas County)
  • Denver
  • Detroit metro area
  • Bald eagle Mountain, Utah (Utah County)
  • Forest City, New York (Rutherford County)
  • Fort Worth, Texas (Tarrant County)
  • Huntsville, Alabama (Madison County)
  • La metro area
  • Newton County, Georgia, metro area
  • Northridge, California
  • Papillion, Nebraska (Sarpy County)
  • Pittsburgh (Allegheny County)
  • Prineville, Or (Crook County)
  • Redmond, Washington
  • Richmond, Virginia, metro area
  • Bay Area metro area
  • San antonio (King County)
  • Washington, D.C.

Qualified small companies may use the funds for workforce investments, rent, advertisement along with other operational expenses.

How to find a Facebook Grant

To use, begin with Facebook’s grant application guide, that will take you step-by-step through the fundamental eligibility needs and the kind of information it’s important to provide throughout the application.

Input where you are at the end from the guide, and it’ll funnel you to definitely someone website known as Ureeka for that actual application. The Ureeka application may have you self-approve that you simply meet fundamental eligibility needs. 

Then you will be motivated to complete six sections for fundamental details about your company: contact details, whether it’s minority- or veteran-owned and just how lengthy it’s existed. 

The final two sections are the most crucial. 

The “Use of Grant” portion requires you to reply to the next prompt:

“Based about how you clarified the prior question, please further describe the way your utilisation of the grant will make an effect inside your neighborhood?”

Pro Tip

Make use of your reaction to add color for your application.

For that final section, you have to provide a minumum of one evidence of business, like a Federal Employer Identification Number (FEIN), partnership documents, a company license, evidence of incorporation or perhaps an official registration.

Facebook will require a couple of days to find the top applicants. Meanwhile, the choice committee may achieve by helping cover their follow-up questions regarding your company.

Adam Sturdy is really a staff author in the Cent Hoarder. He covers the gig economy, entrepreneurship and different ways to earn money. Read his ​latest articles here, or say hi on Twitter @hardyjournalism.

It was initially printed around the Cent Hoarder, which will help countless readers worldwide earn and cut costs by discussing unique job possibilities, personal tales, freebies and much more. The Corporation. 5000 rated The Cent Hoarder because the fastest-growing private media company within the U.S. in 2017.

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