Business Improvement Fund for Residential Care

The Australian Government has announced it will provide an additional $563.3 million to further support the aged care sector’s response to COVID-19.
This takes the Government’s support for senior Australians in aged care to over $1.5 billion since the pandemic began.

The package includes an additional $245 million to extend the COVID-19 Support Payment for all residential aged care providers and an additional $154.5 million for a third Workforce Retention Payment based on employment at 30 November 2020.

Every Aged Care in Australia can apply for the following grant to improve business operations and upgrade financial management and IT systems.

Who can apply?
Eligible applicants include organisations that must be a residential aged care provider that:
– Has operational residential aged care facilities in Australia including all NATSIFAC residential providers, and local government residential providers.
– Have no or limited access to other sources or forms of support (e.g. from other operations or means including from a parent or related organisation).
– Be in a financial position impacting significantly on your ability to care for residents or facing reasonably near risks of service closure.

Providers in rural and remote areas and providers affected by the 2019-20 bushfires will be prioritised for consideration.

Eligible Activities
Restructure business operations and upgrade financial management and IT systems.

Main Assessment Criteria

The main assessment criteria include whether:
– The provider has no or limited access to other sources of funds or support.
– The provider’s financial position increases the risk of service closure or impacts on resident care.
– The provider has a clear business strategy showing how they would use funding to improve and support their ongoing viability.
– There are no concerns with the provider’s record, capability and capacity to provide quality care.

Closing Date 30 Apr 2021
Read more and apply