The Royal Bank of Scotland (RBS) has launched the Community Business Loan Fund (CBLF) to help potential and existing social entrepreneurs who are unable to access finance through normal mainstream channels.
The £5 million Fund offers financial support for the purpose of starting or expanding a community-based business. RBS expects to support in the region of 1,000 businesses through the scheme.
Eligible businesses can apply for loans of between £30,000 and £500,000. Community Development Finance Institutions, which allocate funds to other firms, may apply for loans of between £200,000 and £1 million.
The loans can be tailored to the applicant's individual requirements and are offered on flexible terms.
Charities, social enterprises, co-operatives and community interest companies operating in the United Kingdom may apply. To be eligible for funding, the organisation must have clear social or environmental objectives and reinvest profits for a social purpose.
Applications may be submitted at any time.
Go to: http://www.rbs.co.uk/
No comments:
Post a Comment