Our Northern Impact Fund offers 20% of the value of the loan as grant, thanks to support from Access – the Foundation for Social Investment with finance provided by it’s partners National Lottery Community Fund and Big Society Capital.
This unsecured lending is suited to new and early-stage enterprises who are seeking finance to support growth or become more robust; typical investments are around £50k. There is up to a 1% arrangement fee with each investment.
1. Social Enterprises looking to develop or grow trading activity
2. Based in Midlands or North of England and focussed here
3. Clear social mission – benevolent, charitable, or philanthropic
4. Less than 5yrs old, or substantial new activity less than 5yrs old
5. Less than 250 employees, t/o less than E50m, net worth less than E43m
6. Need grant as unable to use 100% debt finance, significant business development costs, or offsetting social impact costs
7. Need to uphold responsible business principles
The Northern Impact Fund has received support from the Growth Fund, which is an initiative of Access – the Foundation for Social Investment. The Growth Fund has been designed to increase the availability of small, affordable, unsecured loans for charities and social enterprises.