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Facebook's grants for Black-owned small businesses are now up for grabs

The social media giant has millions of dollars available for majority Black-owned small businesses.

Angela Lang/CNET

Facebook has announced that applications are now open for more than $40 million in grants for Black-owned businesses. As of Wednesday, majority Black-owned US businesses with up to 50 employees can apply for the grant online

Black-owned businesses can also now self-designate their Facebook page as being Black-owned. The designation won't appear publicly on the profile or page, but it will come up as being Black-owned in the Businesses Nearby section. 

"This will make it easier for people to discover, message, buy goods or order food through third-party apps from Black-owned businesses in their local communities," Facebook said.

Read more: Black Lives Matter: Movies, TV shows and books on systemic racism

Facebook added it's already distributed the majority of its COVID-19 grants to small businesses whose revenue has been impacted by the coronavirus pandemic.

It comes as Black Lives Matter protests are continuing across the US as people demonstrate against the deaths at the hands of the police of George FloydBreonna Taylor and Ahmaud Arbery, and against systemic racism. 

Black Lives Matter. Visit to learn how to donate, sign petitions and protest safely.