First Steps Enterprise Fund (FSEF) is a £300,000 pilot fund to support community organisations managed by Social Investment Business (SIB) on behalf of the ASDA Foundation.
The Fund is available to community organisations (charities and social enterprises) based in England that are looking to take on their first loan to help them grow and become more sustainable.
Preference is given to organisations that work in the following areas:
- Older people
- Health and wellbeing
- Employment for young people
Funding packages of up to £30,000 are available (90% loan and 10% grant). The loan element is charged at 5% (fixed) to be repaid over a period of 4 years with an optional capital holiday for the first year. Up to £50,000 is available for exceptional cases.
This programme is open to community organisations that:
- Are based and work in England
- Have been operating for at least one year
- Can provide evidence of need for and benefit to their local community.
Organisations that would like to discuss the fund, or to explore an application please contact Christian Stannard email@example.com to arrange an initial telephone conversation.