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 offers loans of £100,000 to £1.5 million for any purpose including refinancing of existing debt (with loans upwards of £50,000 for organisations led by people from racialised communities). The minimum turnover eligibility is £400,000 (£200,000 for organisations led by people from racialised communities).
This won’t be suitable for everyone – given it is social investment loans with a minimum turnover criteria. But it could be of interest to larger community organisations looking for repayable finance.
The Fund is being run by Social Investment Business with £10 million to be awarded. The Fund closes to submissions on Friday 20th May 2022. All applications will be considered on a ‘first come, first served’ basis/
If you would like to discuss eligibility or get more information on the fund please contact Jo Simpson on 07930 391 885 or firstname.lastname@example.org.