Northern Impact Fund 2 is finance to support the development or growth of trading activity, including cash-flow, working capital, and asset development or purchase.
Fund Offer:
- Investment amount – from £5,000 to £150,000.
- Time period – 1-5 years.
- 3 product options as follows:
- Product 1 – up to 30% of the loan amount as grant, interest rate at 6.5%, arrangement fee of 1%.
- Product 2 – up to 18% of the loan amount as grant, interest rate at 4%, arrangement fee of 1%.
- Product 3 – Shariah compliant with no interest, arrangement fee of 3.5%.
Eligibility:
- Organisations must have clear social aims and objectives.
- Organisations must fit one of the following descriptions:
- Not for private profit.
- Asset locked.
- Have clear policies/restrictions around profit distribution.
Funded by:
Access – The Foundation for Social Investment
Better Society Capital
Regional Growth Fund
Unity Trust Bank
Barrow Cadbury Trust
The Places Foundation
Joseph Rowntree Foundation
Mercers’ Charitable Foundation