Loans and business support is available to voluntary, community and social enterprise (VCSE) organisations that are planning to deliver innovative, demonstrably effective products and services in the ‘early intervention space' for the benefit of children and young people in London.
Maximum value:£ 100,000
Objectives of Fund
The loan and business support will support VCSE organisations that are inexperienced in social lending and seeking to expand their impact or to support them to a sustainable model.
CAN Invest defines 'early intervention' as "programmes that support targeted action to prevent social cost and personal harm for children and young people".
Loans of between £5,000 and £100,000 are available along with wrap around business support.
Interest Rate: 0 – 4%
Repayment Terms: 1 – 4 years (and unsecured)
Looks to help in the following scenarios:
•Working capital / cash flow - to help manage ‘payment in arrears’ style contracts or VAT finance scenarios.
•Asset and growth finance - to buy small assets or pilot projects for later expansion.
•Outcome based payment - to help facilitate payment by results contracts, mini SIBs, or other similar work.
In addition, investees also receive free business support from experts on a range of business needs, such as accounting, marketing and social impact measurement to name just a few areas.
Who Can Apply
To be eligible, applicants must be:
•A Company Limited by Guarantee operating for social purpose; Community Interest Company; Industrial Provident Society; Charitable Incorporated Organisation and/or a registered charity.
•Working in the London boroughs of: Barking and Dagenham, Bexley, Brent, City of London, Ealing, Enfield, Greenwich, Hackney, Hammersmith and Fulham, Haringey, Havering, Lewisham, Newham, Redbridge, Tower Hamlets, and Waltham Forest.
•Incorporated in England.
•Willing to work with the Fund to meet its objectives, including in areas of due diligence (to assess eligibility) and make the most of the non-financial (business) support provided.
•Able to generate surpluses to repay the loan.
•Working to help children and young people through early intervention in: ◦Child welfare and troubled families.
◦Early years and education.
◦Training and unemployment for young people.
◦Anti-social behaviour, gangs and criminal justice.
Projects and services must be aimed at the following:
•Child welfare and troubled families.
•Early years and education.
•Training and unemployment for young people.
•Anti-social behaviour, gangs and criminal justice.
How To Apply
Applications can be made at any time.
There is a two-step application process. Organisations should initially fill out an online expression of interest which can be found on the CAN website. A member of the CAN Invest team will contact applicants within five working days to discuss the applicant’s eligibility for the fund.
For more information visit the website.