Many businesses now depend on Facebook for online marketing. That is why Facebook is continuously working on new tools to boost small and medium businesses to recover from the impacts of COVID-19. Recently, it launched Ads Strategies and published the “Creative Prototyping” playbook to help level up ads and campaigns. Today, Facebook launches new ways to fund small businesses. Facebook realizes that most small businesses are struggling financially resulting from the downtime during the pandemic. In celebration of National Small Business Week, the platform launches 2 new ways to fund small businesses.
Facebook Invoice Fast Track
Starting the 1st of October, the Facebook Invoice Fast Track program will expand helping companies owned by disabled individuals, LGBTQ, minorities, veterans, and women. A $100 million invoice fund will be added to the program in partnership with Crowdz and Supplier Success. Eligible businesses can immediately get cash assistance for invoiced goods and services at fixed and low fees.
Small Business Funding Resource
A new small business funding resource is a portal where small businesses can connect with information to help them scale. It includes relevant communities and responsible lenders. Through this new experience, small businesses can tap into educational business resources, loan opportunities, and thriving SMB group grants. By clicking the Business Resources and Small Business Funding, page admins can get support from the Community Reinvestment Fund USA, and other purpose-driven lending companies.
Facebook launches new ways to fund small businesses on 13 September 2021.
Implications for Marketers:
Facebook’s new ways to fund small businesses can be a great help to recover from the devastating effects of the COVID-19 pandemics. It can also be a great way for marketers to get advertising funds and boost their marketing efforts to target higher revenues and sales.