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04 October 2022

The Recovery Loan Fund reopens for applications with £7m immediately available alongside flexible finance grants and support funding for Black and Minoritised Ethnicity-led charities and social enterprises.


Social Investment Business (SIB) has announced that the Recovery Loan Fund will reopen for applications on 4th October 2022.

The Recovery Loan Fund provides loans to UK charities and social enterprises who need funds to help them to survive, recover and grow. It has been established by SIB to make an existing Government guarantee scheme, the Recovery Loan Scheme more easily accessible to charities and social enterprises.

At a time of continued economic uncertainty and a growing demand for services delivered by charities and social enterprises, eligible organisations may need flexible funding to adapt delivery models; diversify income streams; manage cash flow; grow their services provision or purchase new technology.

During its first phase earlier this year, the Recovery Loan Fund approved more than £5 million to 18 organisations This has supported a range of organisations working across training and education, mental health and wellbeing, and housing and community facilities.

The Fund is being run by SIB, with initial investment from SIB and the Fusion21 Foundation – the charity parent and social investor of social enterprise and public sector procurement provider Fusion21. In January 2022, The Archbishop’s Council, Big Society Capital, MFS Investment Management, and Treebeard Trust were announced as further investors in the Recovery Loan Fund.

SIB is continuing to work with Access – The Foundation for Social Investment, The Ubele Initiative and Create Equity to provide grant and support funding alongside the Recovery Loan Fund to support Black and minoritised ethnicity-led charities and social enterprises based in and delivering impact in England. This grant funding from Access’ Flexible Finance programme offers the following:

  • Unrestricted grants alongside the RLF loans of up to 100% of the loan value if needed
  • Bespoke business support
  • Eligibility for RLF reduced from £400k turnover to £200k turnover
  • Minimum loan size reduced to £50k from £100k

The Recovery Loan Fund continues to be primarily a loan fund so Black and minoritised ethnicity-led applicants must apply for a loan in order to be awarded a grant. The grants and support will be used to widen accessibility of the fund to groups that have traditionally found it more difficult to secure investment.

Rob Benfield, Director of Investments at SIB said: 

“We are all acutely aware of the significant pressure the current economic conditions are having on the vital services delivered by charities and social enterprises. The re-opening of the Recovery Loan Fund makes £7m of funding and support immediately available ahead of a challenging winter period.”

How to apply

The Recovery Loan Fund is open for applications from 4th October 2022.

For more information, including full eligibility criteria, product details, how to apply and FAQs, visit: Recovery Loan Fund


About the Recovery Loan Scheme

The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.


About Social Investment Business

Social Investment Business provides finance and support for a more equal society. We support charities and social enterprises to build stronger and fairer communities. We offer funding and flexible, adaptive support to the organisations that make up the social economy, providing them with the tools they need to make a positive difference to the communities they work within. Since 2002, SIB has deployed and managed over £500m of loans and grants, directly supporting more than 3000 charities and social enterprises.


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