Financial support for Victorian businesses
There are a number of funding opportunities to support businesses affected by COVID-19. Further hardship funds will be made available to eligible businesses that do not qualify for existing programs. Below are four payments NGIV members may be eligible to receive:
Business Costs Assistance Program Round Two July Extension
- The Business Costs Assistance Program Round Two July Extension provides eligible businesses that had not previously applied for the Program in June, or have since become eligible, with the opportunity to apply for $4800 in support.
Business Costs Assistance Program
- Under the new State-Commonwealth business support package, more than 90,000 businesses will be automatically paid a Business Costs Assistance Program Round Three grant of $2,800.
Small Business COVID Hardship Fund
- An additional $54 million will be added to the Small Business COVID Hardship Fund announced last week, allowing grants of up to $8,000 to be paid to small businesses that are not eligible for support under existing programs and have experienced a 70 per cent reduction in turnover.
COVID-19 Disaster Payments
- Eligible workers who lose hours due to the lockdown will be eligible for support through the Commonwealth’s COVID-19 Disaster Payment, as will businesses that do not qualify for Victorian Government support programs because they are not registered for GST.
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