Google Commits $800M to COVID-19 Affected Small Biz Owners
Google joins the long list of big businesses offering a hand to small biz owners affected by COVID-19. Earlier in the month Fingercheck reported that Facebook, YELP! and Amazon, each initiated efforts to offer financial support small businesses. Now, Google CEO, Sundar Pichai has announced a new $800+ million commitment to support them along with health organizations, governments, and workers in the healthcare field, hit hardest by the global pandemic.
Google’s commitment includes:
- $250 million in ad grants to help the World Health Organization (WHO) including over 100 government agencies around the world who provide critical information and best practice methods on preventing the virus from spreading. Google is also providing $20 million in ad grants to local and community financial institutions and NGOs to run public service announcements (PSA’s) on relief efforts and related resources for small and local businesses.
- $200 million investment fund supporting non-profits and financial institutions around the globe helping to provide small businesses to capital to access.
- $340 million in Google Ads credits available to all small businesses with active accounts during the past year. Notification of credits are said to appear in Google Ads accounts. Credits will be allowed for usage through 2020 on Google’s ad platforms.
- $20 million in Google Cloud credits will be available for academic institutions. This includes researchers to leverage computing capabilities for continued research in possible therapies and vaccines. To learn how to apply for credits click here.
- Direct financial support and expertise to help increase the production capacity for personal protective equipment (PPE) and lifesaving medical devices.
In addition to these commitments, Google has increased the gift match they offer every employee annually from $7,500 to $10,000. So Google employees can now contribute up to $20,000 to organizations in their communities.