Facebook To Buy Unpaid Invoices

Facebook ($FB@US) announced a $100 million commitment to a program that supports small businesses owned by women and minorities. Facebook will buy up outstanding invoices with its Facebook Invoice Fast Track program as a part of its effort to build relationships and long-term loyalty among small businesses. Small businesses can submit outstanding invoices of a minimum of $1,000. If accepted, Facebook will buy the invoice from the small business and pay within a matter of days. The customers then pay Facebook the outstanding invoices at the same terms agreed upon with the small business.