|Fund:||Liverpool City Region Impact Fund|
The Rare Trust applied to the Liverpool City Region Impact Fund to help them secure a loan for crucial building works and increase the capacity of their performing arts school for talented young people.
The Rare Trust, set up in 2012, is a performing arts school based in Liverpool City Centre. The organisation was borne out of the desire to make high quality performing arts training open to all talented young people regardless of their ability to pay. They currently have 125 students and they offer specialist training in dance, acting, singing and musical theatre.
The Rare Trust was in a tricky situation. Although the demand for their performing arts training places was growing daily, both from individuals and schools paying for BTEC places, the amount of places they could offer was limited by their premises. Their building was at full capacity and not fit for purpose.
How we helped
But the show had to go on.
After applying to the Liverpool City Region Impact Fund The Rare Trust received a loan of £168,265 to help them refurbish their property and create more useable studio space and facilities.
"Without this investment we would not have been able to expand our services…. Working with a social investor who understood what we’re trying to do has really helped us.”
Michelle Faulkner, Director, The Rare Trust
What was the outcome?
The investment allowed for the completion of the building works but also led to new employment opportunities for staff and growth in income from the launch of 20 new services.
As well as significantly increasing the number of full time and part time students that could develop their artistic potential, The Rare Trust also secured a £100,000 donation for further refurbishment works.
The performing arts social enterprise now has plans to acquire another building and offer even more places to talented young people.
A dramatic improvement, in more ways than one.
In February 2018 The Rare Trust repaid the loan we gave them in full. We are pleased to have been able to support them in the early stages of building their business.