flexiblefullpage - default
interstitial1 - interstitial
Currently Reading

Facebook Provides "affordable, immediate cash" for Small Businesses

billboard -

Facebook Provides "affordable, immediate cash" for Small Businesses

Facebook has unveiled a program ​allowing women and minority-owned small businesses get paid faster

By Erika Mosse September 15, 2021
Facebook and small business
Facebook Small Business

Facebook has unveiled a program ​allowing women and minority-owned small businesses get paid faster.

The Facebook Invoice Fast Track program purchases outstanding invoices from ​small companies and pays them in a few days. The idea is to free up operating cash for the business owners​ rather than having them wait until the invoice is paid​. Facebook then collects on the ​debt​​.

"Get paid faster," the program's website says. "Receive payment immediately instead of waiting 30, 60, 90 or 120 days​.​"

Facebook has committed $100 million to the program and takes a 1% cut of every invoice purchased.

While the program may be well intentioned, ​the social media giant ​also ​has ​its own interests to promote and protect—small businesses accounted for nearly 75% of Facebook's revenue in 2020​,​ according to Deutsche Bank.

The Invoice Fast Track Program will start accepting applications from businesses on October 1. Invoices must be at least $1,000 for eligibility. According to Facebook's website, the program is available to businesses that are "certified as majority-owned, operated and controlled by racial or ethnic minorities, women, U.S. military veterans, LGBTQ+, ...or individuals with disabilities. Companies must be certified by an approved partner organization."


written by

Erika Mosse

Director of Content

Erika Mosse is the director of content for Professional Remodeler. Contact her at emosse@sgcmail.com or 972.803.4014.

Related Stories

Andersen to Develop Solar Power Generating Products

The leading manufacturer will develop solar power generating window and door products in partnership with Ubiquitous Energy

Preparing as a Remodeler for the Inflation Reduction Act

Since the recent passage of the Inflation Reduction Act (IRA), the green building industry has been buzzing with enthusiasm for the more than $50…

Must-Attend Event of 2022: The Pinnacle Experience

Join us from September 19 through 21 in Scottsdale, Ariz. for a first-of-its-kind industry event

Where Do Homeowners Take Out the Most Home Improvement Loans?

Homeowners may look to higher ticket projects in these states

Strength of Remodeling Market Seen in Growing Balance Sheets

Home values continue to grow with the help of remodeling improvements, says the National Association of Home Builders

Highlighting Opportunities for Women in Construction

The National Association of Home Builders recently testified to Congress for stronger benefits and will celebrate Professional Women in Building Week next month

Harvard Predicts Remodeling Growth Slowdown in 2023

The Joint Center for Housing Studies of Harvard University foresees a remodeling growth cooldown for the first half of next year

NARI Announces New CEO

Christine Melendes brings more than 20 years of experience working with associations

Reborn Cabinets Acquired by Renovo Home Partners

Private equity's latest move is the acquisition of the West Coast's leading home improvement company

40% of Homeowners Concerned with Home Improvement Affordability

Rising interest rates, prices, job security, and contractor availability are main factors impacting homeowners' decision to proceed with home improvement projects.

boombox1 -
native1 -

More in Category

native2 -
halfpage1 -