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Facebook to give $40 million to struggling Black-owned small businesses

10,000 businesses will receive grants through this new program

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ROANOKE, Va. – Keeping a small business afloat during the coronavirus pandemic has been challenging for many, so Facebook created a grant program offering $40 million to 10,000 Black-owned businesses.

Facebook announced it will award $4,000 grants which include $2,500 in cash and $1,500 in credit towards ads on its social media platform.

This program is part of Facebook’s commitment to invest $100 million this year to the Black community.

Black-owned business can apply for the grant if they fall under the following criteria:

  • They are a Black-owned, for-profit business
  • Have between 1 and 50 employees
  • Have been in business for more than a year
  • Have experiences challenges from the coronavirus pandemic
  • Plan to use the grant funds to support the business and the community

The deadline to submit applications is Aug. 31.

Click here to learn more.


About the Author:

Nicole Del Rosario joined WSLS 10 in August 2020.