COVID has caused a lot of problems for us even since it began over a year ago. Companies have been having a lot of issues as well, as it’s really affected how they do business.
Facebook has recently released an expansion of their Invoice Fast Track program in order to support small businesses. With this expansion, SMBs can apply to Facebook to buy up their outstanding invoices.
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.