My baby busted his lip today!

My 16 mo old tripped this morning and fell straight into a plastic crate we had in the dining room (in the process of unpacking from a recent move). Well, his tiny face collided with the corner of the crate and it immediately starting gushing blood and swelling. Now he has a huge gash on the inside of his mouth and a small one outside on his lip. I am afraid that he might need antibiotics or something....I've never dealt with anything as big as this (small bit/fat lips in the past).