Monday, 17 November 2014

£30m loan fund to offer commercial finance to charities and social enterprises

Registered charities and social enterprises based and working in the UK have a new source of loan funding with the introduction of a £30 million Third Sector Loan Fund, which launched at the end of last week.
Launched by Social and Sustainable Capital (SASC) in partnership with Social Investment Business (SIB), 
Big Society Capital
, and Santander, the Third Sector Loan Fund will run for 10 years.
It will provide both secured and unsecured loans of between £250,000 and £3 million to registered charities and social enterprises working to improve the economic and social
well-being of individuals, particularly those who are vulnerable
and disadvantaged.
Funding is aimed at diversified sectors such as, but not limited
·         Jobs,
·         Education and Training,
·         Healthcare,
·         Disability Services,
·         Children and Families,
·         Housing,
·         Criminal Justice,
·         Social and Financial Inclusion,
·         Community Development, and
·         Ageing.
The fund will finance activities which allow social ventures
to scale up, increase the impact they make, and generate
income to repay their loan with interest.
Expressions of Interest are currently being accepted.
There is no closing date.

Full details can be found on the Social and Sustainable Capital website

(Source: GRIN)

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