Social Investment Business (SIB) has launched a 2 two-year pilot programme supporting charities and social enterprises in England tackling social problems among disadvantaged communities to increase their social impact, raise investment, grow their business and become more financially resilient.
The Fund aims to provide patient and flexible capital for early stage social ventures by offering repayable grants (Revenue Participation Agreements), where repayments are linked to whether revenue growth is achieved. Funding of between £10,000 and £25,000 is available over two years through a Revenue Participation Agreement (RPA).
Grants, in the form of Revenue Participation Agreements, are available to non-profit organisations in England tackling social problems within disadvantaged communities, with the aim of enabling them to:
- Break through the barriers to growth and deliver social impact at scale.
- Increase the number of beneficiaries and/or social impact in the communities they serve.
Registered charities, Community Interest Companies, companies limited by guarantee, co-operatives or Community Benefit Societies, and companies limited by shares (not profit distributing) that are based and operating in England can apply.
To be eligible for funding applicants must:
- Be tackling social problems among disadvantaged communities in England.
- Have an income between £10,000 and £10 million and have been established for 12 months or more.
- Have a clear social mission and carry out trading activities in support of this.
- Have a social mission/asset lock in place or be in the process of doing this.
- Distribute less than 50% of post-tax profits.
- Reinvest more than 51% surpluses into pursuing the social mission.
- Have some income needs addressed through trading, which the organisation is looking to increase.
- Deliver social impact and aspire to grow this in the coming years.
More detailed guidance is available within a downloadable document on the SIB website here: https://www.sibgroup.org.uk/pioneer-and-prosper
Application deadline: Friday 21st September, 12:00pm