Facebook announces $40mn to help small businesses

Facebook has announced $40 million in grants for 10,000 small businesses in the US to help them get through these challenging time.

The grants will go to small businesses in 34 locations where Facebook employees live and work. Those located in New York and Seattle will be the first to receive funds.

"In this challenging time, when information is changing daily, we are listening to and learning from scores of small businesses to understand what they need now and what they will need down the road," Facebook COO Sheryl Sandberg said in a statement on Thursday.

The social networking giant recently announced $100 million global small business grant programme.

"We're making it easier for people to support their favorite local businesses with digital gift cards on Facebook, which are beginning to roll out today in the US," said the company.

People will see the option to support local businesses with digital gift cards in their News Feed.

Business owners can also create a personal fundraiser on Facebook for their business and ask customers for support during this critical time.

"The COVID-19 pandemic has hit small businesses everywhere. Suddenly and, through no fault of their own, many simply can't do business, and for others it has become much, much harder because customers are doing the right thing and staying at home," said Sandberg.
-IANS