Vero backs recovering SMEs with $250,000 in grants
Suncorp Group's insurance brand Vero has announced it will offer $250,000 in Business Recovery Grants to help SME customers impacted by COVID-19, with applications now open.
The grants are designed to help SME customers regain traction with funds to support advertising, equipment, business consulting as well as promotional printing, and can be applied for by brokers on their client’s behalf, or by eligible SME customers online.
Anthony Pagano, Vero Head of Commercial Intermediaries said as government subsidies scale back and restrictions ease, many SMEs will be navigating new challenges as they look to recover.
“Vero understands for many SMEs rebuilding momentum quickly will be crucial for their recovery,” Mr Pagano said.
“Our new Business Recovery Grants will give 25 SMEs practical support to get their businesses back to market.
“These funds will help struggling businesses across a variety of areas including local area marketing, advertising and advice on strategy and business development.
“Now more than ever it’s important we support our small and medium businesses to reconnect with their customers and return to profitability.”
Vero will review every application in detail and ensure that even for businesses unsuccessful in receiving the grant, additional support is made available to them via their broker.
“These grants will empower SMEs to choose the support that’s right for them. Vero will continue to back brokers, and their SME customers, as they get back to business,” Mr Pagano said.
Apply for a Business Recovery Grant
Applications are open to eligible Vero Business insurance, Vero Corporate insurance and GIO Workers Compensation customers that have suffered financial hardship due to COVID-19. There are 25 grants with a total combined value of $250,000 (including GST), which comprises five grants of $20,000, ten grants of $10,000, and ten grants of $5,000.
Eligible SMEs, or brokers on the client’s behalf, can apply online by describing in 250 words or less how the grant for advertising, promotional printing, equipment and/or business consultancy will help the eligible business recover.
Applications will close on 31 July and will be assessed by a judging panel on Monday, 10 August before the successful recipients of the grant are notified on 12 August.
Terms and conditions apply.