£4 Million Fund Launches to Support Black and Racially Minoritised-Led Charities and Social Enterprises
Social Investment Business, The Ubele Initiative and Create Equity have partnered to reopen the Flexible Finance Fund. The £4 million blended finance programme offers loans and grants to Black and racially minoritised-led charities and social enterprises in England, helping organisations access the finance they need to strengthen their resilience and grow their services in the communities they serve.
With grant funding provided by Access – The Foundation for Social Investment, this refreshed fund builds on the strong track record of the previous four years of Flexible Finance which closed earlier this year. Black and racially minoritised-led organisations play a critical role in tackling inequalities and supporting underserved communities, yet research led by Social Investment Business identified lower rates of social investment among Black and racially minoritised-led organisations. Flexible Finance aims to help address this gap by making appropriate finance more accessible.
The blended funding package combines flexible grant and loan finance, with loans ranging from £50,000 to £1.5 million alongside grants worth between 50% and 100% of the loan value, capped at £200,000. The partnership brings together Social Investment Business, The Ubele Initiative and Create Equity’s complementary expertise in social investment and supporting Black and racially minoritised-led organisations. Together, the three partners will support organisations throughout the application and assessment process, helping make the programme more accessible and enabling applicants to get the most from the funding.
ARK Resettlement
With support from Flexible Finance, London-based ARK Resettlement Services expanded the reach of its work within the communities it serves. The charity supports people leaving prison by providing accommodation, employment opportunities and training. Through Flexible Finance funding, ARK was able to purchase a five-bedroom property, increasing its capacity to deliver stable housing and support.
Having previously encountered barriers to accessing social investment, ARK found that Flexible Finance offered a more accessible route to investment. The funding enabled the organisation to strengthen its long-term sustainability by building both its asset base and the services it provides.
Rob Benfield, Director of investments at Social Investment Business, said:
“We’re delighted to continue working with The Ubele Initiative and Create Equity, with support from Access, to improve access to social investment for Black and racially minoritised-led organisations. Flexible Finance is designed to address some of the barriers that have historically made investment harder to access, combining grant and loan funding in a way that better meets organisations’ needs. This new round gives us the opportunity to build on what we’ve learned and support more organisations to develop stronger, more sustainable organisations and expand what they can deliver for the communities they serve.”
Debra Healy, CEO of Create Equity, said:
“Create Equity are thrilled to once again partner with Social Investment Business for the refreshed Flexible Finance initiative. Empowering Black and Brown-led organisations has never been so important, and the blended finance as well as the wrap-around support delivered through Flexible Finance provides a great opportunity for organisations to grow and thrive. We look forward to working with and supporting many more Black racially minoritised led organisations once again.”
Yvonne Field OBE, CEO and Founder of The Ubele Initiative, said:
“Flexible Finance provides funding to organisations that too often miss out on social investment. We are delighted again to partner with Create Equity and Social Investment Business on Flexible Finance, as well as supporting organisations that impact the social good in our communities.”
Neil Berry, interim CEO at Access – the Foundation for Social Investment, said:
“We know that many organisations serving or led by communities experiencing inequity face additional barriers in accessing the finance they need to sustain or scale their impact. That’s why we’re pleased to support the relaunch of Flexible Finance. By combining flexible investment with tailored support, the fund will help more Black and racially minoritised-led organisations access appropriate finance, strengthen their resilience and continue delivering vital impact in their communities.”