Social Investment Business is pleased to announce a new significant new partnership with Power to Change.
From Spring 2020, Social Investment Business (SIB) will become Power to Change’s grant administrator for the Community Business Fund, Homes in Community Hands, Empowering Places, M&S Community Business Challenge and Sandbox Ideas programmes and for Research and Market Development grants.
SIB will work with Power to Change to develop and deliver future Community Business Fund rounds: we look forward to launching round nine in the autumn of 2020 with a further round planned in 2021.
SIB emerged successful from a competitive procurement exercise for this partnership work. They presented a strong understanding of the realities faced by community businesses and the communities in which they operate and close alignment with Power to Change’s mission and vision. Between 2004 and today, SIB has deployed and managed over £400m of loans and grants into over 2,000 organisations, and enabled almost 1,000 more to get dedicated support through programmes.
UMi Commercial Ltd have provided programme delivery and grants administration for Power to Change since February 2016. In that time, UMi has successfully administered more than 270 grants, representing in excess of £38 million of Power to Change investment in community businesses across England. UMi has played a key role in the launch and delivery of the Community Business Fund’s £29 million investment to date to support community businesses grow and become more sustainable.
Power to Change, SIB and UMi are working together to ensure that this transition does not disrupt other partners and the community businesses they support.
Nick Temple, Chief Executive of SIB, said:
“We are delighted to announce our partnership with Power to Change. The work that founded Social Investment Business 20 years ago was in providing finance and support to community businesses. This partnership gives us the opportunity to bring the knowledge and learning from that track record of investment, grants and programme management to support such organisations as effectively as we can: making finance fairer for the communities they serve. We look forward to working with Power to Change to create better places through community business.”
<< You can read more about our partnership with Power to Change here >>