Combined loan and grant funding up to £100,000 is available via the programme and we work closely with social loan providers Co-operative & Community Finance (CCF) and Key Fund who administer the loan finance. Funding awards will not exceed £100,000 and the maximum grant contribution is £50,000. Loan and grant funding are always made up of equal amounts. You cannot have grant funding without an equal amount of loan funding.
The loan and grant funding is to pay for capital costs only, such as the purchase of land, buildings, construction, and equipment. The loan and grant funding will not pay for revenue costs which are those associated with paying people for their services, except access consultants. Gaining approval for the loan funding element is a prerequisite for the loan and grant package, and grant funding will only be released once the loan has been approved with a loan provider.
The amounts and ratios available are discretionary and will be assessed against the group’s ability to service a loan, meet the eligibility criteria and clearly demonstrate their wider social and economic impact.
Groups are also expected to raise a proportion of community finance, which will be taken into account when determining the funding mix. We encourage groups to attain the community share offer Standard Mark and can provide support to do this.