Facebook to give $40 million to Black-owned businesses

Facebook is expanding its support of Black-owned businesses. In March, social media giant pledged $100 million to small businesses around the world. On Aug. 19, the company fine-tuned its funding goal, setting aside $40 million of that money for Black-led companies in the U.S. “We know the support is needed now, if not yesterday,” said Payton Iheme, public policy manager for Facebook, citing the disparate impact the coronavirus pandemic has had on minority entrepreneurs. Facebook said it will…

Facebook is expanding its support of Black-owned businesses. In March, social media giant pledged $100 million to small businesses around the world. On Aug. 19, the company fine-tuned its funding goal, setting aside $40 million of that money for Black-led companies in the U.S. “We know the support is needed now, if not yesterday,” said Payton Iheme, public policy manager for Facebook, citing the disparate impact the coronavirus pandemic has had on minority entrepreneurs. Facebook said it will…

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