Federal Government Pledges Over $1 Million for Social Enterprises That Create Jobs for the Disadvantaged

Social enterprises that generate employment and positive social outcomes can apply for loans of up to $500,000.

An elderly commuter at Flinders Street Station in Melbourne, Australia, on Sept. 4, 2015. Michael Dodge/Getty Images

The Australian government is set to inject $1.2 million (US$755,000) into a new loan scheme to support social enterprises, businesses that merge commercial success with community benefits.

Treasurer Jim Chalmers and Social Services Minister Amanda Rishworth said the initiative would amplify the impact of Commonwealth funding by attracting private-sector investment.