The Victorian Government’s recently expanded Business Support Fund Stream Two applications come to an end on 1st June 2020. Theses grants are $10,000 per business.
Stream Two was recently created to expand eligibility beyond the initial program (now known as Stream One). Many business owners complained that the strict requirement under Stream One to have been impacted by the Deputy Chief Health Officers Restrictive Activity Directions (RADs) precluded them from eligibility even though they had been indirectly impacted and forced to reduce trading or close.
The new Stream Two basically extends eligibility to those businesses that meet the JobKeeper criteria and have enrolled in the JobKeeper program (the business must also meet the other Victorian Government basic criteria).
The application and FAQ’s are listed here at the Victorian Government’s website https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-fund
To be eligible, applicants must:
- Employ people; and
- Have a turnover of more than $75,000; and
- Have payroll of less than $650,000; and
- Hold an Australian Business Number (ABN) and have held that ABN at 16 March 2020 (the date the State of Emergency was declared in Victoria over coronavirus); and
- Have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020, and
- For Stream One – operate in an industry sector that has been subject to closure or highly impacted by the restrictions (a Restricted Activity Direction) announced by the Victorian Government ; OR
- For Stream Two – be enrolled as eligible participants in the Commonwealth Government’s JobKeeper payment scheme.