In a blog post, Ajit Mohan, Facebook India Head, has announced the launch of the small business grant for India. Facebook has tied up with OECD and World Bank to issue a grant of $4.3 million for over 3,000 small businesses in the metros of India.
To recall, Facebook announced $100 million global grant for small and medium businesses in March.
"We are announcing a grant of $ 4.3 million (Rs 32 crores) for more than 3000 small businesses across Delhi, Gurgaon, Mumbai, Hyderabad, and Bangalore, where Facebook has offices," Mohan stated in the blog post.
The grant program is open to small businesses from all industries and verticals and businesses do not need to have a Facebook family of apps presence in order to apply.
In case you feel that your business is in need of immediate financial support, you can also apply for the monetary grant. The registration for the same has already commenced.
The grants will be available in the form of both cash and ad credits, with cash constituting a larger share. The businesses will also be free to do what they wish to do with this grant.
"Earlier this year, we underlined our commitment to India and especially to small businesses through the $ 5.7 billion investment and partnership with Jio Platforms. Small businesses are a big priority for Facebook. Every month, 180 million small businesses globally use the Facebook family of apps to reach potential customers and build their business. That means that for every 45 people in the world, there is a small business presence on the Facebook family of apps, according to Mohan.
Additionally, Indian small businesses will also be able to create gift cards for use on Facebook and Instagram, with the social media giant has tied up with multiple partners to enable the issuance and management of Gift Cards.
“It’s been inspiring to see how people and businesses have come together on the Facebook family of apps to support their local communities. Gift cards will help small businesses reach more potential customers online,” he added.