Vero is offering grants totalling $250,000 to help its SME customers recover from the business impacts of the COVID-19 pandemic.

The grants are designed to help SMEs regain traction as government subsidies scale back and restrictions ease. They can be used for advertising, equipment, business consulting and promotional printing.

Head of Commercial Intermediaries Anthony Pagano says the insurer “understands that for many SMEs rebuilding momentum quickly will be crucial for their recovery”.

“Now more than ever it’s important we support our small and medium businesses to reconnect with their customers and return to profitability.”

Vero is offering 25 grants, comprising five with a value of $20,000, 10 grants of $10,000 and 10 grants of $5000.

Applications are open until the end of the month to eligible Vero Business Insurance, Vero Corporate Insurance and GIO Workers Compensation customers that have suffered financial hardship due to COVID-19.

SMEs – or their brokers on clients’ behalf – can apply online by describing in 250 words or less how the grant will help their business recover.

Vero says it will review every application in detail and ensure customers unsuccessful in receiving the grant still receive additional support via their broker.

The applications will be assessed by a panel on August 10, with successful recipients to be notified on August 12.

More details are available here.