The Co-operative Enterprise Hub works with regional and national groups of experts to bring organisations in the UK the best advice, training and consultancy on how to set up, run and grow a sustainable co-operative business. The Hub aims to expand the co-operative economy in the UK by creating strong, ethically-led businesses with a deep sense of social responsibility.
The initiative includes both grant and loan assistance, as follows:
- Grants:
- Up to £5,000.
- Only considered in conjunction with a loan application.
- Grant recipients must have received advice and training through the Enterprise Hub.
- Loans:
- Unsecured loans through the Co-operative Loan Fund
- Loans can range from £5,000 to £75,000.
- Low interest rates.
- Repaid over ten years.
- Loans are available for co-operatives that require finance to:
- set up a new enterprise;
- expand an existing enterprise;
- assist employee buyouts or company successions;
- purchase a property or business; and
- purchase capital equipment or create working capital.
To qualify for support, applicants must have their registered office in the UK and be either:
- a co-operative, or soon to be a co-operative; or
- an incorporated body or soon to be incorporated.
The Co-operative Group has recently doubled the funding for its Enterprise Hub scheme in the hope of fostering a new community business every day for the rest of the year. The total funding available will now reach £15 million over the next three years.
Applications for assistance may be submitted at any time.
For more information go to: http://www.co-operative.coop/
(Source: Grantfinder)
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