The pandemic has really caused a lot of problems for everybody, as well as businesses. I don’t think there’s many companies that haven’t had some sort of issue arise due to COVID.
To help support small businesses (SMB), Facebook has launched an expansion of their Invoice Fast Track program, which lets SMBs apply for Facebook to buy up outstanding invoices, which would be a financial relief to them.
As explained by Facebook:
“For a low, fixed fee, eligible businesses can get cash immediately for the goods and services they’ve invoiced their customers for but would otherwise have to wait months to get paid – time and capital they can now use to invest in the recovery and growth of their companies. We will fund up to $100 million in invoices on an ongoing basis and are operating the program in partnership with Supplier Success and Crowdz.”
Facebook has even launched a new in-app application process for grant and loan opportunities. This will make things a lot easier for SMBs to access the info and resources that they need to survive.