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Department of Health
The Social Enterprise Investment Fund Details (Hits : 3805)
| Aims: | By enabling social enterprises to deliver health and social care services, the Social Enterprise Investment Fund aims to improve the quality of services for patients. |
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| Description: | The largest part of any investment (with the exception of smaller investments in start-ups or incubation schemes) will generally be a loan, repaid at a fixed interest rate of 6 percent. We will never lend you more than you can realistically afford to repay and we will work with you to design a repayment plan that suits your organisation. This may include repayment holidays and/or the rolling up of interest during the early years of the loan. |
| *Type: | Projects |
| *Duration: | > 3 years |
| Funding: | * Loans are provided at 6 percent interest * The minimum loan amount is £25,000 * The loan period will vary in length depending on circumstances * Penalties are not imposed for early repayment * Trustees/Directors are not held personally liable for loans (unless they’ve acted recklessly or fraudulently |
| *Amount: | > £100K (Estimated total funds: £25,000,000) |
| Closing Date: | Unspecified or Not Known |
| Comments: | Application is a seven stage process. After checking eligibility, to begin the application process contact the administrators. For more information, please see their website. |
| Restrictions: | * You have to be a social enterprise according to the Government definition - ‘a business with primarily social objectives whose surpluses are principally invested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners’ * Your proposed services have to deliver health and/or social care outcomes * The ultimate beneficiaries of your proposal must be based in England * You have to be unable to secure funding from a commercial bank * You must be able to repay the investment and be able to show how you plan to do so * Your proposal must help meet the aims of SEIF |
| Grant Contact: | The Social Enterprise Fund Phone : 0191 269 2276 Email: info@futurebuilders-england.org.uk |
| Grant Web Page: | The Social Enterprise Investment Fund |
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