Loans and blended finance available from Key Fund 9 November 2017 Update from the Key Fund about funds available: "We are a social investor in the region that offers blended (part grant and part loan) investment, this is because the majority of what we do is unsecured small loans to enable social enterprises to start up, grow or do something new, we also have unsecured money for capital purchases (buildings and purchases) which is great for community groups wanting to purchase a building. "Have a look at our website we have some great client videos just produced which give you a great overview of why social investment is great for social enterprise development. Funds available Up to £150,000 - Blended finance (loans with up to 20% grant) Our Northern Impact Fund offers 20% of the value of the loan as grant, thanks to support from Access - the Foundation for Social Investment. This unsecured lending is suited to new and early stage enterprises who are seeking finance to support growth or become more robust; typical investments are around £50,000. Up to £150,000 - Blended finance (loans with up to 30% grant) "With up to 30% of the value of the loan as grant, supported by Power to Change, this fund is for community businesses." Up to £150,000 - Standalone loans "We can also provide loans to community and social enterprises. Loans are funded from the following: ERDF via the European Union Big Society Capital Regional Growth Fund Nottingham Social Impact Fund" Up to £18,000 - Standalone loans "Our European Progress Microfinance Facility loan is designed to support the set up or development of a small business. It's suited to those who want to set up a social enterprise or develop an existing one with fewer than 10 employees. Interest rate of 6.5% flat and an arrangement fee of c12.4% APR. EaSI Guarantee." Interested? Questions? The Investment Team will work with you to identify the most appropriate fund for your needs, telephone 0330 202 0559. This content is © Bfunded 2017.
Thursday, 9 November 2017 - 12:00am