Philippine micro, small and medium enterprises (MSMEs) that are struggling amidst the COVID-19 pandemic may now apply to become recipients of Facebook's Small Business Grants Program, which offers financial support to small businesses affected by the global outbreak.
Aiming to assist up to 30,000 eligible small businesses in more than 30 countries, the Small Business Grants Program is backed by a US$100 million budget, P55 million of which is dedicated to support around 500 qualified MSMEs in the Philippines.
Each grant amounts to approximately P108,000, comprising of P67,500 in cash and P40,500 in optional ad credits to help businesses that are experiencing disruptions due to the COVID-19 crisis. The cash grants may cover workforce maintenance, rent and operational costs, and the ad credits can help with online marketing to increase customer growth, among others.
Businesses that are eligible to apply for the Facebook Small Business Grants Program are "for profit" type companies experiencing challenges due to COVID-19. They must have been in business for over a year, have 2 to 50 employees as of January 1 this year, and located near Facebook's area of operation, which is in Metro Manila.
Application period is between October 6 to 12, 2020 only. MSMEs need not have a Facebook account in order to initially apply for the grant, but they are required to submit the following: Securities and Exchange Commission (SEC) registration of their business, Articles of Incorporation / Partnership, and their Bureau of Internal Revenue (BIR) Certificate of Registration.
Interested Philippine businesses may apply by visiting https://enph.goodera.com/grant/application/10070/open-task/90761/org/8706/details. More information about the Facebook Small Business Grants Program is available at https://web.facebook.com/business/small-business/grants.
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