... I now completely comprehend the severity of the situation and am going to take full responsibility for not reading the guidelines & violating the copyright material several times. When I say "resolving the situation", what I meant was to fix everything by doing what would be right for the parties involved in this situation but I'm not sure how exactly to do that.
Right now, you are probably best off doing nothing about the copyright infringement. The infringing material has been removed and that might be enough for the copyright holder. The copyright holder will either contact you or not, depending in large part on the copyright holder and the copyrighted work that was infringed.
If the copyrighted work you used on your Facebook page was registered with the US Copyright Office in a timely fashion, the copyright holder would be eligible for statutory damages ($750-$30,000 per infringed work). If not registered prior to infringement, the copyright holder is limited to any profits you made from the use of the work and any losses the copyright holder suffered as a result of the use.
The cost of pursuing a lawsuit may not make financial sense for the copyright holder but, even if a lawsuit is deemed too costly, you still might receive a settlement demand letter from the copyright holder, asking for X amount of dollars in compensation.
If you receive such a letter, or if you are sued, you will want to speak to an IP attorney in your area before responding to either. Although you admit not getting permission from the copyright holder, you want to make sure the individual seeking money from you is actually the holder of the copyright and, if so, is not seeking more compensation than is deserved.
With the fallout from Facebook, I went to check on YouTube, and from what I can understand, they are fine as long as the copyright holder get to monetize from my videos.
Facebook operates differently from YouTube (licensing agreements, for one difference). Terms and conditions vary from website to website so it is never safe to believe what is okay to do on one site is okay to do on others. It is important to take the time to read the terms of service on each site so you know what is expected of you as a user on that site.
It appears best for you at this point to explore options other than Facebook for your business purposes. Perhaps you can start your own business website.
It also appears best for you to wait for the copyright holder to take the next step on the infringement, if any next steps are taken.
Good luck.