Small business owners, here’s how you can apply for Facebook’s P100K cash and ad credits grant

Many doors have closed in the time of COVID-19. Most of which are businesses, which prior to the pandemic have thrived but because of the lockdown and subsequent economic downfall, couldn’t resume their operations.

To help ease the effects of COVID-19 on businesses, the government through various agencies is offering cash aid and low-interest loans. One is through the Department of Trade and Industry (DTI), which had allocated P1 billion for lending to micro and small businesses as early as June. Under this program, small businesses such as online merchants may borrow up to P500,000 with a minimal monthly interest of 2.5 percent and no collateral.

Amid these programs, some businesses are still ailing, especially those in the brick-and-mortar trade, where rent still consumes most of their finances along with taxes.

According to DTI, 52.66 percent of the country’s micro, small and medium enterprises (MSMEs) fully stopped or closed their operations as early as April due to the health crisis. Photo by Richard A. Reyes/Philippine Daily Inquirer

To help alleviate financial troubles and drive customers to these shops, Facebook has set up a small business grants program, where eligible businesses can get up to P108,000—P67,500 in cash and P40,500 in optional ad credits.

“Up to 30,000 eligible small businesses in more than 30 countries will be able to receive a grant from Facebook,” the social media giant said. A fund of $100 million has been allocated by the tech company, of which $2.5 million (approximately P55 million) will be given to 500 enterprises in the Philippines.

Here’s what you and your business need to qualify for the grant:

Must be a for-profit company
Must have between two and 50 employees as of January 2020
Must have been in business for over a year
Must have experienced challenges due to COVID-19
Must be in or near a location where Facebook operates

For Filipino-owned businesses, the last requirement means that only those based in Metro Manila, where the Facebook headquarters is located, are eligible.

Additionally, businesses don’t need to have a Facebook presence to qualify. They just need to present the following documents: