Facebook Launches Grant Program To Help Black-Owned Businesses

Small businesses are struggling, all over the country, and over 100,000 have shuttered and closed down permanently. And while states are trying to figure out how to help, big companies like Facebook are also trying to provide relief. Early on in the pandemic, Facebook launched a small-businesses program, and now Facebook has launched a grant program aimed at helping Black business owners specifically, which is also part of the tech giant’s commitment to invest $100 million into the Black community to combat racial inequity.

According to Facebook CEO, Mark Zuckerberg, 40 million of that $100 million small business grant program will be earmarked for Black-owned small businesses.

Grant awards will include up to 4,000 in funding, $2500 of that being cash, and $1500 in operational ad credits to be used on Facebook or other related platforms.

According to Facebook, some of the things grant money can go to help with are to keep your workforce going strong (pay employees), help with rent, or any related operational costs that are directly related to the business itself. Also, these funds could be used on marketing costs to help connect with yourself with your customers (which may be where ad credits come in) or support your community (this could be events, fundraisers).

Many of the same things that Facebook does not allow on it’s platforms including vaping, marijuana, or any other things that goes against Facebook’s terms & conditions would make a business ineligible for this program.

Programs like this can be incredibly helpful to small business who really need the help, especially during a time of such sincere period of uncertainty, and can specifically help Black business owners who may have had issues applying for help through the last round of SBA funding.

More of these stories of big corporations doing something for underserved communities please!

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