Aims/priorities: Loan funding is available to support registered charities and social enterprises impacted by the pandemic and which are working to improve people's lives, or the environment they live in, across the UK. The scheme supports access to finance for charities and social enterprises working to improve lives or the environment in the UK as they recover and grow following the COVID-19 pandemic. Loans can be used for business purposes, including, managing cashflow, investment and growth. The scheme is designed to support businesses that can afford to take out additional finance for these purposes. A key aim of the government's Recovery Loan Scheme is to improve the terms on offer to businesses, but if SIB can offer a business the choice of a commercial loan on better terms, without requiring the guarantee provided by the RLS, it will do so.
Who can apply? Applications are accepted from charities or social enterprises based in the UK.
Grant amount: Loans are available for a term of one to six years in the following sizes:
- Between £100,000 and £1.5 million.
- Between £50,000 and £1.5 million for BAME-led organisations and those based in Wales and Scotland. (SIB defines BAME-led as having a board or senior management team made up of 51% or more members from BAME backgrounds.)
Application process: An online application form and guidance documents are available on the SIB website.
Deadline: 21 November 2021 (midnight).
Contact information: Tel 020 3096 7900, Email RLF@sibgroup.org.uk
Website address: www.sibgroup.org.uk