Just to give you all an updated outline of the weekend’s press conference:
In view of the extension of the lockdown, the Victorian and Commonwealth governments have continued with their support of small and medium businesses (SMEs).
Business Costs Assistance Program
Recipients of the Business Costs Assistance Program Round Two or July Extension will continue to receive automatic payments which will now be determined by the business’s payroll. Grants will range from $2800 a week for businesses with an annual payroll below $650,000, and $5600 a week for up to $3 million in payroll costs and $8400 for payroll of up to $10 million.
Licensed Hospitality Venue Fund 2021
Licensed hospitality businesses that have previously received grants under the Licensed Hospitality Venue Fund 2021 or July Extension programs will receive automatic payments based on premises capacity. Businesses will receive $5000 for a capacity of up to 99 patrons, $10,000 for under 500 patrons and $20,000 for more than 500.
Live Performance Support Program (Suppliers) Round Two
The Live Performance Support Program (Suppliers) Round Two provides up to $4000 in total support per applicant for those suppliers affected by the cancellation or postponement of events. Suppliers may be eligible for either $200 or $500 per event. They can apply for support for up to 20 events. Applications are now open and close on 8 September 2021.
Live Performance Support Program (Presenters) Round Two
The Live Performance Support Program (Suppliers) Round Two provides grants of up to $12,000 in total support for live performance event presenters affected by the cancellation or postponement of events as a result of lockdowns. Applicants can apply for either $5000 or $7000 for one event and a further $5000 for a second event. Applications are now open and close on 8 September 2021.
Small Business COVID Hardship Fund
For those SMEs that are not eligible for other government assistance and whose turnover dropped considerably due to the COVID-19 restrictinos, grants are now available up to $20,000. Those businesses who have already received this grant will receive an automatic top-up payment of $6000. Applications are now open and close on 10 September 2021.
For Further details and to register, head to https://business.vic.gov.au/
SME Recovery Loan Scheme
The Commonwealth Government’s SME Recovery Loan Scheme is designed to provide continued assistance to SMEs, including self-employed individuals and non-profit businesses, that are dealing with the economic impacts of the COVID-19 crisis. It provides access to eligible SMEs for loans of up to $5 million over a term of up to 10 years. Eligibility criteria has now been updated and it is no longer a requirement to have received JobKeeper during March 2021 or to have been a flood affected businesses to be eligible for this Scheme. Application are now open and close on 31 December 2021.
For further details and to register, head to https://business.vic.gov.au/grants-and-programs/sme-recovery-loan-scheme