The Social Investment Business which provides loans, grants and support to charities and social enterprises has announced the new Reach Fund – a small grants scheme to help charities and social enterprises in England prepare their organisations for social investment.
The fund will run for two years and provide grants of £5,000 – £15,000 to test a new model of investment readiness support. It is funded by Access – the Foundation for Social Investment, which was established with a £60m government endowment, and delivered by the Social Investment Business.
Charities and social enterprises will only be able to get support from the Reach Fund by first approaching one of a number of approved social investors called Access Points. The Access Points will refer organisations to the fund if they are interested in supporting them, but they are not yet investment ready.