On Tuesday 26th April, the Recovery Loan Fund approved another four loans totalling £1.8m – this takes the total approved to date to over £4m to 11 charities and social enterprises. There is still a further £6m available to support charities and social enterprises that are improving people’s lives or the environment they live in across the UK.
As part of its commitment to open and transparent data, SIB have published a dashboard of the Recovery Loan Fund applicants, including pipeline and demographic information. An case study of an organisation that recently took on investment through the Recovery Loan Fund can be found here.
Rob Benfield, Director of Investments at SIB, said:
“We are delighted to have approved over £4m in funding to support charities and social enterprises as they bounce back from the pandemic. With the closing date fast approaching on the 20th May, we still have around £6m in funding left and we will progress applications on a first come, first served basis. We’d encourage all organisations who might be interested to get in touch with the team and start your application ahead of the deadline.”
How to apply
The Recovery Loan Fund offers eligible organisations loans of £50K-£1.5m, with a 1-6-year term and offers grants alongside loans for Black and Minoritised-Ethnicity led organisations in England.
The Recovery Loan Fund is open for applications until 11.59pm on Friday 20th May 2022.
For more information, including full eligibility criteria, product details and FAQs, visit: https://www.sibgroup.org.uk/recovery-loan-fund