Has your organisation been adversely affected by COVID-19? Do you need a loan to respond and recover?
Eastside Primetimers is working with the Social Investment Business (SIB) to help organisations secure funding under their £25m Resilience & Recovery Loan Fund (RRLF).
This is a new fund for social enterprises and trading charities who are experiencing disruption to their normal business model as a result of COVID-19. It has been established to make the government’s Coronavirus Business Interruption Loan Scheme (CIBLS) more easily accessible.
Over 30 organisations have already had funding approved. The main eligibility criteria includes organisations that are:
- Seeking a repayable loan of between £100k and £1.5m;
- Have a turnover of between £400k and £45m;
- Draw more than 50% of your income from trading activity
- Have one of several qualifying legal structures and have operated for more than 2 years
- Have been adversely impacted by COVID-19, but also have a viable business proposition
You can read more about the fund and the criteria here.
The closing date for this fund is 5pm on Friday 13th November and it operates on a first-come-first-served basis. We can help you with any questions you might have about the fund and discuss your eligibility in order to speed up the process of accessing it. If you would like to find out more or need help regarding your eligibility, please contact Jo Simpson at firstname.lastname@example.org.