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Facebook Pledges $100 Million to Aid Small Businesses Affected by Coronavirus
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variety.comHoping to earn goodwill among its advertising clients and global user base, Facebook announced that it will offer $100 million in cash grants and ad credits for up to 30,000 eligible small businesses that need assistance in staying afloat during the coronavirus (COVID-19) crisis.
For context, the $100 million Facebook said it has earmarked for small business owners represents 1.4% of the company’s net income for the fourth quarter of 2019.
The social giant didn’t disclose how businesses can apply to receive the funding or ad credits, saying it will announce more details “as they become available.” The program will be available in over 30 countries.
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