The Federal Government has delivered an extra $50 million for EMDG this year to help small and medium sized exporters through the global recession.
The initial payment ceiling amount for the 2007-08 grant year was $40,000. This means that, all successful 2007-08 grant year recipients qualifying for grants of up to $40,000 would receive their full grant entitlement on assessment, but those qualifying for grants over $40,000 would receive $40,000 on assessment and a second tranche payment at the end of June 2009. The payout factor that Austrade was to determine at the end of the financial year was based on the amount of EMDG funds remaining in the EMDG budget once all recipients’ initial payments have been made. Previous year pay out was 24.4 cents in the dollar.
The recent Federal Budget delivered the $50 million boost to the EMDG scheme in 2008-09.
As a result of the increased funding eligible businesses are likely to receive 100% of their second tranche entitlement in June 2009.
If you are interested in finding out more about how Treadstone can help you with your EMDG application call us on (03) 9016 3575