Meta, on Tuesday, announced a new financial support feature to ease cash flows for small businesses in India — no cost equated monthly instalments. According to a press note, India is the first country where this feature has been launched. It will allow advertisers to pay Meta for their advertising campaigns in equated monthly instalments over three months through participating banks at no additional cost of interest. Meta will bear the applicable interest payable to the bank and give it as an upfront discount to the business on its ad spends.
Chat support
Using Meta’s no cost EMI billing, they can choose any amount between ₹3,200 and ₹5,00,000 to convert to EMIs, said the press note. Meta also announced 24/7 chat support for their active advertisers in India for small businesses going online on Meta’s platforms. To access this support, users can visit the ‘support’ option on the Meta Business Help Center.
Ajit Mohan, V-P and MD, (Facebook India), Meta, said: “With these announcements, every advertiser on Meta in India, irrespective of their ad spends, has access to financial and service support at the click of a button to unlock new growth opportunities. We know that each business is on a distinct journey, and we are committed to building India-focussed solutions, keeping in mind their unique needs. We hope that the initiatives that we have announced during Grow Your Business Summit will help small businesses achieve their business goals with greater flexibility and ease.”
This is part of Meta’s Meta commitment over the past three years for enabling easier access to timely credit. This journey started in 2020 when, as part of Meta’s $100-million global grant for small businesses, grants were announced for small businesses across five cities in India. In 2021, Meta launched the Small Business Loans Initiative, a programme that enables business loans for Meta’s small business advertisers through third-party lending platforms.