Emergency loans are available to support UK-based social enterprises and charities that are experiencing disruption to their normal business model as a result of coronavirus/COVID-19.
A national emergency loan fund established with an initial investment of £25 million from Big Society Capital is inviting applications from UK-based social enterprises and charities.
The fund aims to support social-sector organisations working to improve people’s lives in the UK that are facing a problem because expected income and activity has been delayed or disrupted as a result of the coronavirus/COVID-19 pandemic. The fund offers emergency loans that can be used as working capital until an organisation’s normal business can commence again. The loans will have no fees or interest for the first 12 months.
Eligible organisations include:
Organisations must also meet the following criteria:
Loans of between £100,000 and £1.5 million are available for a term of one to five years.
The deadline for applications is 11.59pm on 31 January 2021.