Facebook cushions COVID-19 impact, grants N500m to Nigeria’s SMB
Please note that creative Businesses can apply for this grant Also. As far as you have a registered company and can provide all required documents
Social media platform, Facebook, has announced a ₦500-million grant to support 781 small and micro businesses in Nigeria, as part of its $100 million Global Grants Programme, announced earlier this year, which aims to support 30,000 SMBs in over 30 countries.
We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we’re offering Naira 400,128 in cash grants and Naira 240,077 in ad credits to help during this challenging time.
To be eligible to apply, you must:
- Be a for-profit business
- Have between 2 and 50 employees
- Have been in business for over a year
- Have experienced challenges from COVID-19
- Be in or near a location where Facebook operates
All locations in Nigeria are eligible.
When completing your application, you will be required to supply your most recent financial statements or accounts along with a legal document proving that your business has been established for at least one year, such as your annual tax return, business registration document (CAC documents), business licence or partnership agreement. Please ensure to provide full financial statements or accounts for your business. At a minimum, the financial statements you provide should include a balance sheet and an income statement/profit or loss statement. A balance sheet typically includes a summary of all of your business’ assets and liabilities. For example assets include items such as cash, balances due from your customers, buildings owned by your business, stock held by your business etc. For example, liabilities include balances due to your suppliers, loans due to financial institutions etc. An income statement/profit or loss statement includes a summary of your income, expenses and profit for a year. Abridged financial statements or accounts will not be accepted.
When prompted to do so, please upload these two documents in a PDF format.
You may be asked to provide further documents at a later stage in the process.