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

$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.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Facing the latest impacts of cyber-crime: cyber insurance premiums increase for businesses
Partner Content
As Australian businesses are forced to adapt to a new normal yet again, a different typ...
Aon
Advertisement

Related Stories

Victoria hit with magnitude-5.8 earthquake, felt as far as Sydney and Adelaide

Victoria hit with magnitude-5.8 earthquake, felt as far as Sydney and Adelaide

A magnitude-5.8 earthquake originating in Mansfield, Victoria ...

Byron, Tweed and Kempsey to go back into lockdown

Byron, Tweed and Kempsey to go back into lockdown

The northern New South Wales local government areas (LGAs) of Byron...

Airwallex now valued at $5.5 billion following oversubscribed Series E

Airwallex now valued at $5.5 billion following oversubscribed Series E

Fintech platform Airwallex today announced it has raised US$200 mil...

APA throws hat in the ring with bid for AusNet, beats Brookfield's proposal by $382m

APA throws hat in the ring with bid for AusNet, beats Brookfield's proposal by $382m

The race to take control of Melbourne-based AusNet Services (ASX: A...