Facebook launches a tool to finance personal projects

It seems that Facebook wants to continue expanding in its projects for the social good. Last year they launched a fundraising model for non-profit organizations, and now they have presented a personal financing modelsimilar to GoFundMe, albeit with certain limitations.

According to Facebook itself, you can only request financing for any of the following causes …

  • Aid for education : aid would be included here to pay tuition, class materials or books.
  • Medical aids : this category covers surgical operations, as well as medical or injury treatments.
  • Veterinary aid : the same as the previous section, but applied to veterinary situations
  • Humanitarian aid : here the different aid campaigns are framed for populations in need or that have recently suffered natural disasters.
  • Personal emergencies : it is the most “personal” section, it indicates that you can ask for financing if your house burns down and you need to rebuild it or if you have suffered some serious theft, such as a car theft.
  • Funerals or loss of family members : the costs of the funeral and burial are framed here.

As we have already said, this service has certain similarities with GoFundMe , although this other seems to be less corseted than the social giant. On the other hand, from Facebook they say that they want to expand these categories to more areas in the future.

This new personal financing service will have a 24-hour review period before beginning to accept donations for a cause, but according to points from, it is possible that the process will be automated as time passes.

From the social network has also been announced that it has expanded who can request donations in live videos. As of today, any verified Facebook page can add a donation button on any live stream.

It is not mentioned if the social network will keep a percentage or not of everything that is collected. When the service was announced for non-profit organizations, the company said it would keep 5% of the proceeds to cover payment processing expenses.

For now the service is only available in the United States , to people 18 years and older. At the moment the project is in a kind of beta phase, while trying to gather information on how it can be more useful for its users.

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