News

Facebook announces $15 million to support Bay Area small businesses

Weeks after Facebook announced it would put $100 million into a program to offer grants to small businesses around the world, the Menlo Park-based company announced today (Tuesday, April 7) that $15 million of that funding will be set aside for Bay Area small businesses.

"As thousands of small businesses throughout the Bay Area struggle mightily, Facebook has generously invested in a $15 million bulwark against this storm. I am deeply grateful to Facebook, and to our many community partners who have generously supported our community through Silicon Valley Strong," said San Jose Mayor Sam Liccardo in a press statement.

Facebook's $100 million investment is intended to support 30,000 small businesses in 30 countries, which could mean splitting a large amount of money into many small pieces. It's still not clear how the funds will be divided; if split equally, it would provide about $3,300 to each small business recipient.

Facebook intends to prioritize small business grants for eligible minority, women and veteran-owned businesses across the U.S. "due to the disproportionate negative impact that COVID-19 will have on these businesses, their employees, and the communities that they serve," said Facebook's Global Chief Diversity Officer Maxine Williams.

Eligible businesses need to have between two and 50 employees, have been in business for over a year, have experienced challenges from COVID-19 and be in or near a location where Facebook operates. In the U.S., that includes about 28 counties or metropolitan areas, according to the grant program website.

What's local journalism worth to you?

Support Almanac Online for as little as $5/month.

Learn more

Funds can be used for things like rent and operational costs as well as customer outreach.

The company is encouraging small businesses to use Facebook and its other platforms like Instagram, WhatsApp and Messenger to interact with customers.

Access more information about the grant program here.

Find comprehensive coverage on the Midpeninsula's response to the new coronavirus by the Almanac, Mountain View Voice and Palo Alto Online here.

Stay informed

Get daily headlines sent straight to your inbox.

Sign up

Follow AlmanacNews.com and The Almanac on Twitter @almanacnews and Facebook for breaking news, local events, photos, videos and more.

Facebook announces $15 million to support Bay Area small businesses

by / Almanac

Uploaded: Tue, Apr 7, 2020, 12:39 pm
Updated: Thu, Apr 9, 2020, 11:48 am

Weeks after Facebook announced it would put $100 million into a program to offer grants to small businesses around the world, the Menlo Park-based company announced today (Tuesday, April 7) that $15 million of that funding will be set aside for Bay Area small businesses.

"As thousands of small businesses throughout the Bay Area struggle mightily, Facebook has generously invested in a $15 million bulwark against this storm. I am deeply grateful to Facebook, and to our many community partners who have generously supported our community through Silicon Valley Strong," said San Jose Mayor Sam Liccardo in a press statement.

Facebook's $100 million investment is intended to support 30,000 small businesses in 30 countries, which could mean splitting a large amount of money into many small pieces. It's still not clear how the funds will be divided; if split equally, it would provide about $3,300 to each small business recipient.

Facebook intends to prioritize small business grants for eligible minority, women and veteran-owned businesses across the U.S. "due to the disproportionate negative impact that COVID-19 will have on these businesses, their employees, and the communities that they serve," said Facebook's Global Chief Diversity Officer Maxine Williams.

Eligible businesses need to have between two and 50 employees, have been in business for over a year, have experienced challenges from COVID-19 and be in or near a location where Facebook operates. In the U.S., that includes about 28 counties or metropolitan areas, according to the grant program website.

Funds can be used for things like rent and operational costs as well as customer outreach.

The company is encouraging small businesses to use Facebook and its other platforms like Instagram, WhatsApp and Messenger to interact with customers.

Access more information about the grant program here.

Find comprehensive coverage on the Midpeninsula's response to the new coronavirus by the Almanac, Mountain View Voice and Palo Alto Online here.

Comments

There are no comments yet. Please share yours below.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Not sure?
Since this is the first comment on this story a new topic will also be started in Town Square! Please choose a category that best describes this story.