Facebook To Give Grant and Loan To SMEs In Nigeria

 One of the biggest social media giant, Facebook, has announced a ₦500-million grant to aid 781 small and micro businesses here in Nigeria. This is part of its $100 million Global Grants Programme earlier announce this year to support 30,000 SMEs in over 30 countries.

 Facebook aims to extent a lifeline to local small business owners who have mostly been affected by the COVID-19. By this, it moves at stimulating economic recovery following the effect of the pandemic.

This much was confirmed by Facebook in its release on the business support facility.

The social media giant, in its release on business support facility verily confirmed this.

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.

Additionally, Facebook believes this grant goes a long way in assisting different beneficiaries to keep their workforce going strong, enabling them connect with more customers and to support their community.

The application will be mainly administered by Deloitte and Quest Computing Ltd. This grants will provided as a combination of advertising credits and cash to SMEs.

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.
• Be in or near a location where Facebook operates.

Eligible Locations

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

 Please note that 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.