New Social Investment Fund Opens for Applications from Across the UK
CAF has launched their new Venturesome Impact Fund and invites enquires from charities, community groups and social enterprises from across the UK.
This extensive and flexible social investment fund is open to all causes and areas in UK and is designed to deliver social impact, investing for three to five years into organisations.
The Fund offers repayable loans between £50,000 and £1 million, with a 5.5% fixed interest rate that will not change during the lifetime of the facility. Additional commitment and legal fees apply.
The flexible investment types include:
- Unsecured loans
- Blended finance (part loan/part grant)
- Standby facilities (a pre-approved loan to draw on if it is needed).
Typically, loans are between three and five years with a regular payment schedule, but this can be increased up to 10 years under exceptional circumstances.
Charities, community groups and social enterprises with a minimum annual turnover of £75,000 can apply.
To be eligible, applicants must:
- Have a clear charitable purpose and social impact. They do not need to be a registered charity; however, companies limited by shares are not eligible unless wholly owned by a charity. Community interest companies (CIC) limited by shares are eligible.
- Be incorporated and registered in the UK, but can have international projects.
- Have been trading for at least one year and can provide evidence either from donations or trading.
The unrestricted social investment can fund:
- Working capital/cashflow management.
- Delivering products and/or services to new customers.
- Building organisational resilience such as investing in improving impact measurement and reporting, designing and developing products or services, systems and processes, sales and marketing, hiring new staff, and purchasing assets.
The first step is to complete the short online enquiry form on the CAF website.
