Facebook Introduces Invoice Fast Track Program

Sep 13, 2021
497 views
0 comments
Share
Employee Resource Groups

Facebook recently introduced their Invoice Fast Track Program, this initiative was given a $100 million commitment by the tech giant. This program is said to support small businesses and businesses owned by women and minorities. As a part of this program, Facebook will buy all of the outstanding invoices of said businesses which will put the money back into the hands of the owners. Otherwise, they would have to wait months to receive money from unpaid customers. The program is estimated to support 30,000 small business owners.

This step by Facebook is a part of its latest venture to secure long-term relationships with such small-scale businesses. These businesses mostly use apps such as Facebook to connect with their customers and advertise to a niche demographic, therefore making them an important category for Facebook. Small business owners cannot afford to wait for customers to clear their invoices, however, Facebook with its $86 billion revenue can. This is the motivating factor behind the Fast Track Program. Small business owners can submit outstanding invoices with a minimum of $1000 to Facebook, if accepted the tech company will pay the businesses, clearing the invoice, within a matter of days. Then the customers can repay Facebook at the same terms that they agreed with the business, therefore clearing the invoice.

Source: CNBC

497 views
0 comments

Tags In

Previous days news

Sep 9 Sep 8 Sep 7 Sep 6 Sep 3

Best tech jobs in the United States : BLS data

Sep 06, 2022
1452 views
0 comments
Background Checks

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Sep 06, 2022
882 views
0 comments
Background Checks

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Aug 17, 2022
1488 views
0 comments
Background Checks

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

Aug 17, 2022
872 views
0 comments
Background Checks

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

Aug 10, 2022
1489 views
0 comments
Background Checks

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Facebook Introduces Invoice Fast Track Program

Facebook Introduces Invoice Fast Track Program

Tags In

Others news

Category

Tags

Articles