Facebook Pledges $100 Million To Small Businesses Impacted By Coronavirus It's also giving $1,000 bonuses to each of its employees.

By Christine Fisher Edited by Frances Dodds

This story originally appeared on Engadget

jacoblund | Getty Images via engadget

Until now, Facebook's response to the coronavirus outbreak has focused on fighting the spread of misinformation -- by offering free WHO ads and banning ads that promote false 'cures.' Now, Facebook plans to invest $100 million in 30,000 small businesses in over 30 countries where its employees work and live. Facebook is also giving $1,000 bonuses to each of its employees, CNBC reports.

For the small businesses, the financial assistance will come in the form of cash grants and ad credits. Those are meant to help businesses stay afloat as more customers stay home, and Facebook intends for the aid to be used to pay workers who can't come to work, help with rent costs, enable businesses to connect with more customers and contribute to overhead costs.

Facebook will begin taking applications in the coming weeks. In the meantime, interested businesses can sign up to receive more information, and Facebook has made its Business Hub available to all. There, businesses can find ideas and advice for managing during the downturn that the coronavirus pandemic has led to.

"Small businesses are the heartbeat of our communities, and many of the people who run these businesses are heavily affected by the crisis -- especially as more and more people sensibly stay home," Facebook Chief Operating Officer Sheryl Sandberg wrote in a statement. "The longer the crisis goes on, the greater the risk to small businesses and to the livelihoods of their owners and employees."

Facebook also told employees that they will each receive a $1,000 bonus to support them during the coronavirus pandemic. As CNBC, notes Facebook employees nearly 45,000 full-time workers and several thousand contractors. It's unclear if contractors will also receive the bonus.

Sandberg says Facebook was inspired by other people around the world "rising to the enormous challenge in front of us." Food delivery services like Uber Eats, Grubhub and Seamless are waiving or suspending some fees for independent restaurants, and gig-economy companies are looking for ways to support workers diagnosed with COVID-19 or quarantined. So far, Facebook is one of few large companies to pledge grants for small businesses or outright employee bonuses -- though Amazon is temporarily increasing its warehouse and delivery workers' hourly rates.

Update 3/17/2020 12:00PM ET: This story was updated to include info related to Facebook's employee bonuses.

Want to be an BIZ Experiences Leadership Network contributor? Apply now to join.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for BIZ Experiencess to pursue in 2025.

Science & Technology

OpenAI's Latest Move Is a Game Changer — Here's How Smart Solopreneurs Are Turning It Into Profit

OpenAI's latest AI tool acts like a full-time assistant, helping solopreneurs save time, find leads and grow their business without hiring.

Social Media

How To Start a Youtube Channel: Step-by-Step Guide

YouTube can be a valuable way to grow your audience. If you're ready to create content, read more about starting a business YouTube Channel.

Business Solutions

Boost Team Productivity and Security With Windows 11 Pro, Now $15 for Life

Ideal for BIZ Experiencess and small-business owners who are looking to streamline their PC setup.

Science & Technology

AI Isn't Plug-and-Play — You Need a Strategy. Here's Your Guide to Building One.

Don't just "add AI" — build a strategy. This guide helps founders avoid common pitfalls and create a step-by-step roadmap to harness real value from AI.

Starting a Business

I Built a $20 Million Company by Age 22 While Still in College. Here's How I Did It and What I Learned Along the Way.

Wealth-building in your early twenties isn't about playing it safe; it's about exploiting the one time in life when having nothing to lose gives you everything to gain.