Social media giant, Facebook, has announced a ₦500-million grant to support 781 small and micro businesses in Nigeria, as part of its $100 million Global Grants Programme, announced earlier this year, which aims to support 30,000 SMBs in over 30 countries.
Facebook said the move is aimed at stimulating economic recovery following the effects of COVID-19, to help empower and extend a lifeline to local small business owners who have been most affected.
This much was confirmed by Facebook in its release on the business support facility.
‘‘We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19; especially companies that are running cross-border business. We’ve heard that a little financial support can go a long way…So, we’re offering USD 100M in cash grants and ad credits to help during this challenging time.’’
In addition, Facebook believes the grants will assist the beneficiaries keep their workforce going strong; help them out with rent and other operational costs; enable them connect with more customers and support their community.
The application process will be administered by Deloitte and Quest Computing Ltd. Specifically, the grant will be provided as a combination of cash and advertising credits to small businesses.
To be eligible/Qualified to apply
Your business must:
- Have between two (2) and Fifty (50) employees ( staff)
- Have been in business for over a year, that is your must-have being operating since.
- Have experienced challenges from COVID-19, That is, the new normal must have affects your business.
- e in or near a location where Facebook operates.
All locations in Nigeria are eligible.
Application Closing Date
The application portal is open for Nigerians from 2 pm on 24 August 2020 to 5 pm on 04 September 2020. Click to apply
Meanwhile, applicants must have certain documents available when applying for the grants.
These include the company’s latest annual returns, business registration/business license, partnership agreement as well as its 2019 financial statements.