In response to the coronavirus, Social Investment Business have launched a Resilience and Recovery Loan Fund for social enterprises and charities which have been adversely impacted by the pandemic. The £25 million fund provides emergency loans of between £100,000 to £1,500,000 without requiring personal guarantees and charging no interest fees or interest for twelve months. The Fund is intended to provide working capital until normal business can resume for organisations that are facing financial difficulty. Loans could be used to cover delays in trade payments, or for business modification to meet increase in service demand. The initial £25 million has been provided by Big Society Capital, with loans backed by the Government’s existing Coronavirus Business Interruption Loan Scheme. The closing date for applications is 11.59 pm on the 31st January 2021. Click here
Applications for round 2 of the Voice4Change Covid-19 Grants Programme open today (Wednesday 25 November) at 1pm. The fund supports Black, Asian and Minority Ethnic (BAME) led community groups and organisations that work primarily with BAME communities. To be considered for support, organisations should have an annual income of under £200,000, although organisations with larger incomes will be considered in exceptional circumstances. Grants of between £5000 and £10,000 are available to organisations that deliver the following services:
- COVID 19 services. Groups can apply for help with current costs if their funding has been affected by the pandemic.
- Mental health and well-being services, particularly to those who have been further impacted by COVID 19
- Sports activities to tackle BAME inequalities and help with the impact of COVID 19
The deadline for applications is 5pm on Thursday 3 December. Find out more here.