Aims/priorities: This extensive and flexible social investment fund is open to all cause areas across the UK and is designed to deliver social impact, investing for three to five years into organisations.
Who can apply? Charities, community groups and social enterprises can apply.
To be eligible, applicants must:
- Have a clear charitable purpose and social impact. They do not need to be a registered charity; however, companies limited by shares are not eligible unless wholly owned by a charity. Community interest companies (CIC) limited by shares are eligible.
- Be incorporated and registered in the UK, but can have international projects.
- Have been trading for at least one year and can provide evidence either from donations or trading.
- Have a minimum annual turnover of £75,000.
In addition, the funder is looking for the following:
- The scale and depth of the impact the organisation can make on people or the environment.
- Evidence that funding will make a difference in the community.
- A plan showing how social investment could help the organisation become more sustainable, create jobs and open up opportunities.
- Evidence of strong governance, an appropriate legal structure, and a sustainable business model to repay the loan.
- Receipt of regular impact and financial reporting whilst the loan is outstanding.
Grant amount: The Fund offers repayable loans between £50,000 and £1 million, with a 5.5% fixed interest rate that will not change during the lifetime of the facility. Additional commitment and legal fees apply.
The flexible investment types include:
- Unsecured loans
- Blended finance (part loan/part grant)
- Standby facilities (a pre-approved loan to draw on if it is needed).
Typically, loans are between three and five years with a regular payment schedule, but this can be increased up to 10 years under exceptional circumstances.
Application process: The first step in the application process is to complete the short online enquiry form on the CAF website.
The CAF Venturesome team will schedule a call with eligible applicants to review loan terms and answer any questions.
The process typically takes around two months from start to finish but may take longer in periods of high volume.
The full details of the application process can be found on the CAF website.
Deadline: There are no deadlines. The fund will stay open continuously.
Contact information: Email: venturesome@cafonline.org