16 December 2019
Interest-Free Loans for Community Spaces – December Deadline
Applications for interest-free loans will be accepted until the end of December from charitable and not-for-profit organisations for enterprising ideas to improve community spaces in the UK.
Interest-free loans of up to £50,000 over a five-year period are available to support charitable and not-for-profit organisations with viable business ideas that will benefit the whole community, particularly those facing greater challenges.
The loans are available to develop or increase trading activities to grow the applicant’s long-term sustainable income so they are more financially secure. There is flexibility on how the funding is to be used. It could be towards capital costs for building or refurbishment, revenue costs to pay staff who can develop trading activities, or for working capital while getting the trading activities started or waiting for other funding to be paid in arrears.
To be eligible, applicants must:
- Own or manage a building or outdoor space that is used for a wide range of community activities.
- Run the organisation for the benefit of the community and the environment, rather than for private profit. Groups that do not have charitable status, must have a constitution or governing document that shows their organisation is run for the benefit of the community.
- Involve a wide range of local people in their work, including more disadvantaged members of the community.
- Have realistic plans to develop trading activities that will grow their long-term income.
The deadline for applications is 31 December 2019. The Foundation will then evaluate and re-launch the programme in 2020.