The Resilience and Recovery Loan Fund (RRLF) is a new fund administered by Social Investment Business (SIB) with an initial investment of £25 million from Big Society Capital.
It 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 scheme 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.
The fund has been established to make an existing government scheme, the Coronavirus Business Interruption Loan Scheme (CBLIS), more easily accessible to charities and social enterprises.
The fund closes to new applications on 13 November 2020 (17:00).
Applicants will be considered on a first-come, first-served basis and the closing date of the fund is subject to constant review.