Big Society Capital Announcement
New lending facilities will provide much-needed finance to charities and social enterprises, and small businesses in disadvantaged parts of the UK
An ambitious £100 million programme of loans and investment is announced today to help get much-needed emergency funding to social enterprises, charities and small businesses in disadvantaged areas affected by the coronavirus pandemic. The measures complement the coronavirus grants programme for social sector organisations announced today by the Government.
These organisations that are in the frontline of responding to the needs of the most vulnerable and deprived sectors of our community, and many are facing significant financial difficulties. Many are also not able to access other sources of government funding which have been made available in response to the crisis.
The new measures, announced today by leading social investors, will create routes for charities, social enterprises and some small businesses facing cash-flow problems and disruption to their trading to obtain urgent finance which they otherwise couldn’t access. Within weeks, affected organisations will be able to apply for emergency loans and investment without paying any fees or interest for 12 months. Further details will follow shortly – please see the website for more information.