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09 December 2021

Social Investment Business wins national social enterprise award

Social Investment Business (SIB), a social investor based in London has won the Social Investment Deal of the Year at the UK Social Enterprise Awards, held at the Guildhall in central London on the evening of 8 December.

SIB is a finalist in the Social Investment Deal of the Year category for their Resilience and Recovery Loan Fund (RRLF). RRLF was a fund for social enterprises and charities who were experiencing disruption to their normal business model as a result of COVID-19. It was established in six weeks in April 2020 to make an existing government scheme (the Coronavirus Business Interruption Loan Scheme (CBILS) more easily accessible to charities and social enterprises.

RRLF was run by Social Investment Business (SIB) with an initial £25m investment and support from Big Society Capital. In August 2020, £4m in grants from Access – The Foundation for Social Investment – was made available alongside loans for organisations in England. SIB was the lender and worked with experienced social investor partners on the design and delivery of the fund: Big Issue Invest, CAF Venturesome, Charity Bank, Resonance, Social Investment Scotland, Social and Sustainable Capital and Wales Council for Voluntary Action. Legal firm Weil provided pro-bono support. RRLF finished with £28m in total funding approved to 77 social enterprises and charities.

The Recovery Loan Fund – the successor fund to the Resilience and Recovery Loan Fund – is now open for applications until Friday 20th May 2022, providing funding for charities and social enterprises to adapt delivery models, diversify income streams; manage cash flow; or purchase new technology.

The national Awards, organised by Social Enterprise UK (SEUK) recognises excellence and outstanding achievements by social enterprises, businesses set up to for a social or environmental purpose that reinvest or donate the majority of their profits to meet their mission. From tackling the climate emergency to reducing homelessness, social enterprises are taking on some of the biggest challenges we face, using trade to change lives and protect the planet. They have also been at the heart of community responses to the pandemic, providing essential services from food deliveries to health care with many pivoting their models to keep on supporting the people they are set up to help.

There are 100,000 of these businesses in the UK contributing £60 billion to the economy and employing two million people.

Nick Temple, Chief Executive of Social Investment Business said:

“I’m delighted that Social Investment Business has won the Social Investment Deal of the Year Award for the Resilience & Recovery Loan Fund. The Fund invested more than £28m in 77 different charities and social enterprises, helping them to secure jobs, maintain services and support people most in need at the height of Covid. We could not have done this without the trust, responsiveness and partnership working of Big Society Capital and Access, and our social investment peers. And it recognises a huge collective effort by the whole SIB team and board”

The annual celebration of British social enterprises was hosted by comedian, writer, and actress Suzi Ruffell

Peter Holbrook, Chief Executive of Social Enterprise UK said:

“In what has been an incredibly challenging year social enterprises have given us a real sense of hope. They’ve shown us what it means to put people and communities first, showing real resilience and strength without compromising on their values, integrity and impact.

From taking on the injustices in the food system and using technology to support people experiencing homelessness to being on the frontline of supporting communities through the pandemic – this year’s winners represent not just the best of business but the future of business.”

Social enterprise supply chain

SIB and the other winners were presented with bespoke trophies made by the social enterprise, Designs in Mind, which employs people with mental health issues.

Social enterprises also supplied all the goods and services on the night, including the catering, rigging, drinks, flower displays and goody bags.

The Awards were sponsored by Big Society Capital, British Council, Compass Group, Coop, Corps Security, eBay, GLL, ISG, Johnson & Johnson, Landmarc, Linklaters, Natwest, PwC, SAP and the Social Partnership Portal,


Notes to Editors

Photos and more information about this years winners will be made available on the morning of 9 December on this webpage – https://www.socialenterprise.org.uk/social-enterprise-awards/uk-social-enterprise-awards-2021-the-winners/

For more information, please contact Anissa Morris – anissa.morris@sibgroup.org.uk or Shehan Perera at Social Enterprise UK – shehan.perera@socialenterprise.org.uk | 07910222409


About Social Investment Business

Social Investment Business provides finance to create fairer communities and improve people’s lives. They do this by providing the money and support they need directly, partnering to support them effectively and, using their knowledge to inform their own work and influence others.

Since 2002, SIB has deployed and managed over £500m of loans and grants, directly supporting more than 3000 charities and social enterprises.

www.sibgroup.org.uk


About Social Enterprise UK

Social Enterprise UK is the largest network of certified social enterprises in the UK and the leading global authority on social enterprises. Together with our members we are the voice for the sector. We have led public policy for nearly 20 years, helping pass the Social Value Act, and are a strategic partner to government. We exist to increase the profile of the sector through our campaigns and research, and build the markets for our members – working with some of the UK’s biggest companies to support them to bring social enterprises into their supply chains. Our members reflect the diversity of the sector ranging from local grass-roots organisations to multi-million-pound businesses. We see social enterprise as the future of business.

www.socialenterprise.org.uk


About social enterprises

Social enterprises are businesses which trade for a social purpose that reinvest or donate over half their profits to further this social or environmental mission. They are an increasingly important part of the UK economy contributing £60 billion and employing 2 million people. Estimates are there are 100,000 in the UK. Research carried out by Social Enterprise UK, the membership body for the sector, shows they are outperforming traditional businesses when it comes to start-up rates, turnover growth and innovation. They are also ahead of the pack when it comes to workforce diversity and pay. For more information and statistics see Social Enterprise UK’s State of Social Enterprise Report 2021 which shows the true scale and impact of the sector.

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