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First Steps Enterprise Fund Launches For The North West

The Asda Foundation and Social Investment Business Foundation are working in partnership to provide a £300,000 pilot fund for community enterprises looking to take on their first loan to help their organisation move forward from start-up stage.

Small community-led charities and social enterprises based and working in communities in the North West can apply for a loan-grant package to help them grow their services and become more sustainable. The investments are the first steps towards accessing the wider social investment market and more financing options.

A loan-grant package of between £20,000 and £30,000 (10% will be a grant) is available. The loan needs to be repaid within four years at 5% (with a capital holiday in the first year - during which only interest is payable).

Applications must be able to explain how their project addresses the needs of the community and how it will tackle underlying issues to deliver benefits to the community.

Organisations eligible to apply need to have been operating for longer than one year but less than three years.
Locations eligible to apply include:

North West: Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.
The deadline for applications is Friday 26th June 2015 (noon).


For full details of how to apply please click here.

17th April 2015