We are helping to roll out a major initiative to support charities and social enterprises to access the investment they need to grow and diversify their income streams.
Co-operative & Community Finance is one of just 10 organisations in England to be approved as an Access Point for the two-year, £4m Reach Fund which will provide grants to organisations that need specific support to be able to take on a loan. The initiative, funded by Access – The Foundation for Social Investment and managed by Social Investment Business, is designed to test a new model of investment readiness support.
Could you be eligible?
Reach Fund can offer up to £15k in grant support to get you investment ready. As your nominated Access Point we can help you through the application process. Please note that the Reach Fund is only open to organisations based in England.
You may be a start up organisation who has developed your business plan, but need to work on your financial forecasts or need to pay for professional help to get those last agreements ready to be signed off. Or perhaps you are an established organisation taking on debt for the first time and need someone to review your governance structure or help put financial systems or social impact monitoring in place.
“We often see applications from co-ops that have great plans or growth strategies but aren’t quite ready for us to offer them finance. Before we can offer finance we need to see strong financials, a polished business plan, confidence in the governance and drafted or in place legal agreements.” Tim Coomer, Co-operative & Community Finance’s Business Development Manager
Often groups have done most of the hard work but falter before the last hurdle. This is because they need to pay for that bit of legal advice or haven’t been able to pay for the sector specialist to check the numbers. This is where Reach Fund can really help get groups over the line.”
If you want to chat through your eligibility or discuss how to apply, please contact Tim Coomer email@example.com or phone 07342 674 673.
Access – The Foundation for Social Investment was launched in early 2015 to bridge the gap between charities and social enterprises and social investors, to help make social investment easier to find and more relevant for those charities and social enterprises. Access is funded by the Cabinet Office, the Big Lottery Fund and Big Society Capital.