BCHA is focused on helping the homeless, families, the young, unemployed, ex-prisoners and other vulnerable people subject to substance abuse, mental health issues, domestic violence and abuse. It was founded as Bournemouth Churches Housing Association in 1968 by a number of local churches, but has since grown into a major provider of a diverse range of housing, support and learning services for socially excluded people. It delivers services across the South, from Plymouth to Reading.
- Amount Raised: £775,000
- Type of Capital: Loan
- Cost of Capital: 2%
- Investor: Dorset LEP
- Duration of Investment: 5 years
BCHA wanted to raise finance in order to purchase land and buildings to create a Social Enterprise Centre. This involved purchasing a former Remploy property worth £520,000 with a funding requirement of £775,000 including refurbishing costs. It aimed to incubate several social enterprises under one roof and sublet part of the property to the Salvation Army.
Funded through the Investment and Contract Readiness Fund programme, we helped BCHA develop their business case for investment, clarify their social impact, identify their main target investors and prepare a funding application. This involved outlining a budget and drawing up a clear investment readiness timeline. We then developed a financial model for each of BCHA’s social businesses and a detailed business plan, before helping BCHA pitch to five different social investment funds. In the end, BCHA was able to secure a five-year loan of £775,000 from the Dorset Local Enterprise Partnership, together with help from Borough of Poole’s economic development team.