On Tuesday, August 25, 2020. Facebook announced $100 million Global Grants Program to support small businesses in 30 countries affected by Covid19 of which Nigeria is one of them. In this post, we will show you the step-by-step procedures to apply for the Facebook grant.
Kindly note that a grant differs from loan. Grant is a free money which requires no payback, while loans are not free money, and to be paid payback even with interest. Although, because of Covid19, there are several Federal Government free-interest loan schemes you can equally access.
From the $100 million Facebook grant, N500 million will be given to small-scale businesses in Nigeria. South Africa and Nigeria are the only countries that Facebook selected from Africa to enjoy this grant.
Application for the Facebook Covid19 grant for small business will end on 4th September 2020. Ensure you apply before the deadline by following the guide on this page. Just keep reading.
Requirements for Facebook grant
To qualify for the Facebook grant, applicants must meet the following requirements;
- Applicants must own business
- Your business must have between 2 and 50 employees
- Business must not be less than one-year-old.
- Your business must have been affected by COVID-19
- Your business financial statements or accounts along with a legal document showing your business was established for not less than one year i.e. annual tax return, business registration document (CAC documents), business licence or partnership agreement.
- Balance sheet showing summary of all of your business’ properties and liabilities i.e. cash, balances due from your customers, loans your business owe, buildings owned by your business, stock held by your business, etc.
Note: All the required documents should be uploaded in a PDF format. There may be additional required documents during the registration process. See how to convert documents to PDF.
How to apply for Facebook grant
To apply for Facebook grant, kindly cIick here to start your application.
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