In order to bulk up on original video programming, the social media giant is planning to revive the series for a second season, sources tell The Hollywood Reporter.
The news comes four months after the show was cancelled post one low-rated season on MTV.
"Loosely Exactly Nicole" is a family comedy inspired by the life and comedy of Byer, who broke out for the Viacom network with talk show "Girl Code".
Further details about the project remain closely guarded as Facebook prepares an expected summer launch for its video slate.
Facebook is lining up two types of programming for its video tab, according to sources familiar with their plans. They include short-form series from digital producers such as BuzzFeed and Vox Media and a handful of signature, television-quality series that Facebook is calling "hero" projects.