Facebook pledges $100 million to small businesses impacted by coronavirus

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The financial assistance will come in the form of cash grants and ad credits. It’s meant to help businesses stay afloat as more customers stay home, and Facebook intends for the aid to be used to pay workers who can’t come to work, help with rent costs, enable businesses to connect with more customers and contribute to overhead costs.

Facebook will begin taking applications in the coming weeks. In the meantime, interested businesses can sign up to receive more information, and Facebook has made its Business Hub available to all. There, businesses can find ideas and advice for managing during the downturn that the coronavirus pandemic has led to.

“Small businesses are the heartbeat of our communities, and many of the people who run these businesses are heavily affected by the crisis — especially as more and more people sensibly stay home,” Facebook Chief Operating Officer Sheryl Sandberg wrote in a statement. “The longer the crisis goes on, the greater the risk to small businesses and to the livelihoods of their owners and employees.”

Sandberg says Facebook was inspired by other people around the world “rising to the enormous challenge in front of us.” Food delivery services like Uber Eats, Grubhub and Seamless are waiving or suspending some fees for independent restaurants, and gig-economy companies are looking for ways to support workers diagnosed with COVID-19 or quarantined. Donations like these by Facebook will likely become more common. Hopefully, they’ll make a meaningful impact.

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