Facebook has announced that it has now started to accept applications for its small-business grants program today, October 6.
The social media giant will grant up to PHP 55 Million in business grants to approximately 500 small businesses impacted by the COVID-19 pandemic. Each grant to small business will consist of a cash grant worth PHP 67,500 and Facebook Ad credits worth PHP 40,500, for a total of PHP 109,000.
These are the criteria set by Facebook in order to be eligible:
- Have between 2 and 50 employees
- Have been in business for over a year
- Have experienced challenges due to COVID-19
- Be in or near a location where Facebook operates
They have set the following document requirements to apply:
- Securities and Exchange Commission (SEC) registration of your business entity
- Articles of Incorporation or Partnership
- Bureau of Internal Revenue (BIR) Certificate of Registration
Small businesses do not need to have a Facebook presence in order to apply. Please note that your business must be physically available in the Philippines in order to access the application form.
You can apply though the link here and choose ‘Philippines’ to proceed. Facebook and its partner organization will be taking in applications until October 12, 2020 only.
Facebook has started its small business grant a few months ago, aiming to provide aid to over 30,000 small businesses all around the world with overall amounts totaling to USD 100 Million, or roughly PHP 4.8B, equivalent of our country’s proposed 2021 national budget.