Facebook launches Small Business Grants Program in the Philippines
Facebook has recently launched its Small Business Grants Program to provide financial support to local SMEs this pandemic.
Facebook offers USD 100 million grant to support up to 30,000 eligible small businesses in more than 30 countries. Among the included countries is the Philippines. The grant program covers keeping the workforce strong, helping with rent and operational costs, connecting with more customers, and supporting the community.
Here is the list of basic qualifications that are eligible for the grant:
- Have between 2 and 50 employees as of January 1, 2020
- Have been in business for over a year
- A for-profit company
- Have experienced challenges due to COVID-19
- Located in or near where Facebook operates (Metro Manila)
Small businesses in the Philippines can submit applications from October 6 to 12, 2020. Facebook offers approximately PHP 55,000,000 in grants to approximately 500 eligible small businesses in the country. Each grant to receive PHP 108,000 including PHP 67,500 in cash and PHP 40,500 in optional ad credits. All numbers mentioned are approximate.
Small businesses do not need to have a Facebook presence in order to apply. Applicants, however, should be personally located in the Philippines order to access the application form. These are the following documents needed:
- Securities and Exchange Commission (SEC) registration of your business entity
- Articles of Incorporation or Partnership
- Bureau of Internal Revenue (BIR) Certificate of Registration
Source: Facebook for Business