Speed up your project’s go-to-market plans with an interest-free loan of up to $20,000 from the City of Casey’s recently launched Innovation Fund.
The annual $100,000 program, which opened for applications on 24 July 2017, is a crucial part of the city’s wider plans to boost the local economy and offer more local employment opportunities to more residents.
Each year, the fund will offer $100,000 worth of interest-free loans to eligible businesses located within, or keen to re-locate to, the City of Casey.
Successful applicants will repay their loans over a period of three years in monthly direct debits, which are set prior to the beginning of the program.
City of Casey mayor Sam Aziz announced the new loans at the Mayor’s Business Leaders’ dinner in June.
“The Innovation Fund is the key to removing barriers some businesses may experience when progressing truly innovative practices,” he said.
“It will enable local businesses to take control of their future by improving their productivity, offering a point of difference to their competition or opening up new markets.”
Local entrepreneur and owner of Successful Endeavours Ray Keefe said the Innovation Fund offered benefits to local businesses, while also sustainably boosting the local economy.
“One thing every business struggles with is cash flow,” Mr Keefe said.
“The money to invest in a new opportunity has to come out of either finance or your profit margin. So that holds back a lot of opportunities, and particularly for early stage and start-up companies. So the City of Casey’s Innovation Fund is a great idea.
“And since they are paying it back and the City of Casey are re-investing it, that means we will have $1million in investment funding circulating through local businesses in 10 years – now that is how you can drive sustainable economic growth.”
Find out more about grant objectives and eligibility criteria, including eligible project examples at www.caseycardinia.com.au/innovation-fund
