As entrepreneurs navigate the modern plague, there’s no doubt small businesses could use all the help they can get. Facebook, is offering digital Ayuda of sorts, via grants to eligible small businesses in the form of both cash grants and ad credits.
Philippine-based businesses stand to receive approximately Php 55,000,000 in grants to approximately 500 eligible small businesses. The grant aims to support businesses by helping with rent and operational costs through the cash component of their grant, as well as offering ad credits to connect the business to more customers.
Each grant amounts to Php 108,000 comprising of Php 67,500 in cash and Php 40,500 in optional ad credits to help during this challenging time. Small businesses do not need to have a Facebook presence in order to apply for the grant. The only limitation of the grant is that it is only available to eligible to businesses operating in Metro Manila where Facebook has a local office.
In order to qualify businesses are required to submit the following documents:
- Securities and Exchange Commission (SEC) registration of your business entity
- Articles of Incorporation or Partnership
- Bureau of Internal Revenue (BIR) Certificate of Registration
You can start the application process by selecting “Philippines” on the dropdown menu on this link. Applications will be received from 6 until 12 October 2020.
If your small business is not eligible for the grant, Facebook offers free resources for business but big and small through which can be accessed here.