The Social Investment Business has launched a new 2-year pilot funding programme to help Charities and Social Enterprises in England to grow their activities and become more resilient and sustainable.
The Pioneer and Prosper programme will provide repayable grants of between £10,000 – £25,000 through a Revenue Participation Agreement to support enterprise activity and enable the organisation to become more resilient and sustainable.
In addition, the programme will provide:
- Business support from skilled and experienced Relationship Managers (e.g. putting together a cashflow forecast, marketing plan or writing your business plan)
- Pro Bono legal support where this is essential to the application
- Follow-on funding from other Social Investment Business programmes
The programme is open to charities and social enterprises that operate in England and:
- Have an income between £10,000 and £10,000,000 and have been established for 12 months or more
- Have the ambition to grow the proportion of their income from trading activities
- Deliver social impact and seek to grow and scale over the coming years
- Have a clear social mission and mainly reinvest surpluses into pursuing this mission
- Are looking to implement a social mission lock or have an asset lock in place
- Distribute less than 50% of post-tax profits.
The closing date for applications is 12pm on 21st September 2018.