Power to Change has published the guidelines for Round 7 of the Community Business Fund which will open to applications from community businesses in England on 24 April.
Power to Change, an independent charitable trust, is using a £150 million endowment from the Big Lottery Fund to support community businesses that are working to address a variety of social problems, from saving local shops to providing affordable housing.
There is around £10 million per year for 10 years with grants of between £50,000 and £300,000 available for eligible projects.
There will be approximately £3 million for Round 7. It is expected that around 17 community businesses will receive funding.
To be eligible, organisations must be incorporated, based in England, have at least one year of financial accounts and share the following four key features:
Projects must have a charitable purpose, meet charitable needs within the community and share one or more of the fund’s seven goals:
The grants can be used for:
Power to Change will fund up to 75% of revenue costs, up to 75% of the building related capital costs and 100% of other capital costs, such as the purchase of a vehicle.
Round 7 will open for applications on 24 April and close on 22 May 2019 (12 noon).
Interested organisations are encouraged to read the guidelines for round 7 which can be found on the Power to Change website and to attend the free webinar on 25 April (14:00 to 15:00). Registration is required.
Full details can be found on the Power to Change website