The Inclusive Recovery Fund (UnLtd)
This new £4.75m grant fund for social enterprises is now open for applications until 5pm, Friday 13th November.
Social enterprises substantially reliant on trading income with an annual turnover between £20,000 and £2.5m can apply.
Applications are accepted from:
- Early stage social enterprises who can demonstrate potential for growth and impact and a resilient financial model
- Established social ventures with ambitions for deep or scalable impact, or with aspirations to tackle entrenched social issues in new ways
The Fund particularly encourages applications from social entrepreneurs who identify as Black, Asian or from a minority ethnic background, and disabled people.
The aim is for 50% of the funding to reach these typically underrepresented groups.
Grants of between £10,000 and £500,000 are available and can be used for activities such as the following:
- New emerging opportunities to grow impact (eg, services that have emerged during the pandemic)
- Projects or infrastructure that will benefit social enterprises’ future resilience, recovery and growth
- Existing services, projects or models that are performing well, with the potential to accelerate growth and impact
The grants can be used to cover staff salaries, project activities, running costs, small-scale refurbishments, organisational development, contributions to fixed costs, investments in systems, investments in people, investments in infrastructure and/or dedicated capacity development.
You can find out more about the fund via this link.
Application deadline: 5pm, Friday 13th November
Recovery and Resilience Loan Fund (Social Investment Business)
The Resilience and Recovery Loan Fund is a £25m emergency loan fund which will provide repayable finance to charities and social enterprises directly affected by the current crisis.
It has been established to make an existing government scheme, the Coronavirus Business Interruption Loan Scheme (CBILS), more easily accessible to charities and social enterprises.
It is designed for social enterprises and trading charities:
- with a minimum turnover of £400k
- who have been trading for a minimum of two years
Eligible organisations can apply for loans of between £100k and £1.5m:
- no repayments for the first 12 months
- loan terms of 1-5 years
- Interest will be charged at 6.5% to 7% per annual from year 2 onwards
- Grants of £40-£300k (20-40% of loan amount, agreed in a case by case basis)
As part of GMCVO’s efforts to support as many VCSEs as possible in obtaining social investment, the social investment team have taken on an ‘introducer’ role with Social Investment Business, to make referrals to this loan fund.
If you are considering applying, please contact the social investment team at GMCVO for further advice and a referral to the fund.
Email: [email protected]
Fund application deadline: Friday 13th November, 5pm