Aims/priorities: The funding is intended to expand the reach of social investment to smaller organisations or those based in disadvantaged areas, targeting funding where it can be most effective at promoting equitable outcomes, and ensuring that any interventions enhance the social and economic capacity of a community.
Who can apply? Incorporated voluntary, community or social enterprise organisations, based in England and delivering social/environmental impact in England can apply.
To be eligible, applicants must:
- Be registered in England as either a Charity, Community Interest Company or Community Benefit Society.*
- Have a viable borrowing request (that can reasonably be expected to meet its repayment obligations).
- Have a minimum of two years’ operating activity.
- Have a minimum turnover of £100,000 in their last financial year.
*Other types of legal entities may apply if they have a social object, asset lock and restriction on profit distribution (must distribute less than 50% of post-tax profits) written into their governing documents.
Grant amount: There is a total budget of £6 million.
The fund offers a blend of loan (75%) and grant (25%).
- Amount available - between £25,000 and £150,000 (inclusive of 25% grant).
- Repayment term - between 1 and 6 years (inclusive of any capital repayment holidays).
- Interest rate of 7.5% fixed per annum on the loan balance.
- Arrangement fee - 2% on loan value (added to loan balance.
- Repayment – capital repayment holiday of up to 12 months at the start of the loan (optional)
- No early pre-payment fees.
- Unsecured.
Application process: The online application form can be found on the SIB website.
As part of the application process, applicants will need to select a partner from the following list who will assess the application and present it to the funds investment committee for a decision.
Partner Sector/Specialism
Co-operative and Community Finance/Co-operatives and social enterprise
Fredericks Foundation/Smaller earlier stage social enterprises
Groundwork/Community action on poverty and the environment
Homeless Link/Organisations tackling homelessness
Architectural Heritage Fund/Conservation and sustainable re-use of historic buildings
Social Investment Business/Charities and social enterprises
Deadline: Applications will be accepted at any time.
Contact information: Contact SIB or one of the fund partners for further information.
Website: Thrive Together Fund | Funding | Social Investment Business