$10m of emergency funding now available for Melbourne CBD businesses

20 August 2020, Written by Business News Australia

$10m of emergency funding now available for Melbourne CBD businesses

From today, businesses based in Melbourne's CBD can apply for up to $5,000 in funding as part of the city's COVID-19 business support scheme.

Worth $10 million in total, the funding package includes $8 million in grants for business transformation and $2 million for mentoring and business support services.

The grants are available for businesses that:

  • Have a valid ABN,
  • Are a bricks and mortar business based in the CBD, Southbank or Docklands,
  • Employ up to 50 full time equivalent staff, and
  • Are a participant in the Federal Government's JobKeeper program.

Hospitality and entertainment businesses are not eligible for these particular grants, as they are able to receive funding through the Victorian Government's Small Hospitality Grants program.

Non-employing sole traders, political organisations, fundraising groups and government departments are also ineligible.

"These businesses are a critical part of the fabric of our city and they are more than just numbers on a balance sheet," said Melbourne Lord Mayor Sally Capp.

"They are Melburnians who have taken a risk to pursue a passion and provide employment for others.

"The continued viability and success of Melbourne businesses is critical to Victoria, as our economy accounts for one quarter of the overall Victorian economy."

The City of Melbourne anticipates the business transformation grants will support around 1,600 businesses.

Applications for the grants opened at 6am today via the City of Melbourne website, and will close at 11.59pm on Thursday 3 September.

Mentoring and business support will be available over the coming weeks.

Updated at 12:49pm AEST on 20 August 2020.

 
Author: Business News Australia

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