Google to pay $340 Million in Advertising Credit to SMBs

In a recent announcement, Google said that it’s offering advertising credit of up to $340 million to small- and medium-sized businesses.

As the novel coronavirus continues to spread around the globe, it’s taking a devastating toll on lives and communities.

According to reports, the current pandemic has become one of the biggest threats to the global economy and financial institutions. As a result, major institutions have cut their forecasts for the worldwide economy.

Now, Google has announced an $800+ million commitment to support organizations and crisis response during this difficult time. From the fund, SMBs are expected to receive $340 million in advertising credits.

In a blog post announcement, the CEO of Google and Alphabet, Sundar Pichai said:

“To help address some of these challenges, today we’re announcing a new $800+ million commitment to support small- and medium-sized businesses (SMBs), health organizations and governments, and health workers on the frontline of this global pandemic.”

Here’s the breakdown of Google’s commitment to SMBs.

Giving $340 in Advertising Credit to Small- and Medium-Sized Businesses

As said earlier, Google pledges to pay $340 million in ad credits to SMBs. What’s more, advertisers will have access to these ad credits in their Google Ads account in the coming months.

According to the tech giant, only advertisers that have been active during the past year will be eligible for the credit. The Google Support page further clarified this point.

The support page announcement reads:

“SMBs who have been active advertisers since January 1, 2019, will see a credit notification appear in their Google Ads account in the coming months.”

In other words, small business owners with newly opened Google Ads account are unlikely to receive a credit notification. Also, Google did not state how much ad credit it would issue to each advertiser.

The tech company, however, stated that ads credit expire this year. In other words, advertisers have until the end of 2020 to use their advertising credit.

The Google Ad credits will work across all of Google’s advertising platforms. These include Search, Display, YouTube, as well as campaign types.