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  • 1.  Recovery fund of $ 500,000 for Canberra small businesses

    CBC MEMBER
    Posted 28-10-2021 08:09

    A new fund offering small, short-term loans will help Canberra's small businesses to grow and recover as the region emerges from COVID-19 and associated lockdowns.

    The recovery fund of $500,000 will lend ACT-registered companies $20,000 to $50,000, to be repaid within 15 months, by December 2022.

    The fund will be managed by the venture debt specialist firm Epicorp, a not-for-profit organisation that gives small and start-up companies non-traditional access to capital, to support growth and commercialisation. (COVID recovery loans are not available to sole traders.) For more information, visit: COVID Recovery Loans | epicorp.

    Epicorp chairman Ken Kroeger said: "Our purpose is to support growth, and I'm really proud that we can offer some short-term assistance following a really challenging period in the Canberra region and Australia more broadly. We are a non-profit group, passionate about nurturing innovation, and this is an opportunity to demonstrate that passion."

    Canberra accounting firm Tailored Accounts will help Epicorp to reach appropriate customers for these short-term loans, and to make sure the applications are processed quickly.

    "Partnering with Tailored Accounts is also a great privilege," Mr Kroeger said, adding that CEO Harry Hoang and his team "had worked hard to build up an outsourced model that makes a big difference to the maturity of start-up businesses".

    Epicorp was founded in 2001 to establish a strong technology commercialisation process for the Australian Capital Region.

    Under common ownership of the Region's research institutions, with government and the private sector support, Epicorp fostered the commercialisation of intellectual property from within the Australian National University, CSIRO, University of Canberra, NICTA, and the Australian Capital Region's industries.

    Today, Epicorp works closely with the Canberra Innovation Network (CBRIN) and the region's innovation and business support network to provide companies with short term growth capital through lending facilities and venture debt.

    Source - Epicorp announces recovery fund for Canberra small businesses

    Canberra Weekly remove preview
    Epicorp announces recovery fund for Canberra small businesses
    A new fund offering small, short-term loans will help Canberra's small businesses to grow and recover as the region emerges from lockdown.
    View this on Canberra Weekly >

     



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    Harry Hoang CEO
    CEO
    Tailored Accounts
    Braddon ACT
    02 6169 5196 (Work)
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  • 2.  RE: Recovery fund of $ 500,000 for Canberra small businesses

    CHAMBER STAFF
    Posted 28-10-2021 16:43
    Excelllent initiative. Well done Harry, Tailored Accounts and Epicorp.

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    Graham Catt
    CEO
    Canberra Business Chamber
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  • 3.  RE: Recovery fund of $ 500,000 for Canberra small businesses

    CBC MEMBER
    Posted 29-10-2021 08:08
    Thanks Graham!
    There won't be any more Gov money so it is time that business need to look at their ability to find other source of funding. 
    I oftent say to my customer, even if you don't need funding right now, the process of getting a pre-approval for your future funding is still a great excercise and learning experience!

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    Harry Hoang CEO
    CEO
    Tailored Accounts
    Braddon ACT
    02 6169 5196 (Work)
    ------------------------------