Facebook will be awarding free advertising space on its platform to 200,000 small businesses in the U.S. as part of a new partnership with the U.S. Chamber of Commerce and the National Federation of Independent Businesses.

According to the three groups, more than half of Facebook's 800 million active users have connected to a small business via the platform. Starting in January 2012, the social networking company will award up to $10 million in ad credits to 200,000 small businesses. This works out to $50 per business.

Source: Chicago Tribune