New fund from SIB (Social Investment Business)

£2m in blended grant funding for the Recovery Loan Fund to support Black and Minoritised ethnicity-led charities and social enterprises in England.

This grant is part of Access’ Flexible Finance programme and will be delivered by SIB in partnership with The Ubele Initiative and Create Equity. They will bring their networks, expertise and understanding to the project, and provide support to organisations throughout the funding application and assessment process.

The Recovery Loan Fund is open to applications until Friday 20th May 2022, find out more about the blended grants and apply here. 

What is the fund?

The Recovery Loan Fund provides loans to UK charities and social enterprises who have been impacted by Covid 19 and need funds to help them to survive, recover and grow. It has been established by Social Investment Business (SIB) to make an existing Government guarantee scheme, the Recovery Loan Scheme , more easily accessible to charities and social enterprises.

The Fund also provides unrestricted grants (alongside the loan) and support to  Black and Minoritised Enthicity -led charities and social enterprises that meet the grant criteria.

The Fund will lend to organisations that are improving people’s lives, or the environment they live in, across the UK. All funding purposes will be considered including refinancing of existing debt onto more patient terms.

The application deadline for the fund has been extended until 11.59pm on Friday 20^th May 2022. Applications will reviewed on a first come, first served basis.

Eligible organisation can apply for loans of £100k-£1.5m.

Details and application process at Recovery Loan Fund application dashboard.

Voluntary Action Leeds