Grant News
The Social Investment Business has announced that its Flexible Finance Fund is open for applications from Black and Racially Minoritised-led charities and social enterprises in England. The fund aims to help organisations grow, take on assets and become more resilient.
Applicants can access loans of £50,000 to £1.5 million alongside unrestricted grants of £50,000 to £200,000. Grants can equal 50% to 100% of the loan, capped at £200,000. Loans are repayable over one to six years at 7.9% fixed interest.
In addition, Flexible Finance support grants of up to £15,000 are available to help address/improve specific area of weakness/s identified during funding assessment e.g. governance, financial management etc. This is only available for the blended loan and grant customers.
Key points:
- England-based charities and social enterprises.
- At least 51% of board and senior management must be Black or Racially Minoritised.
- Minimum £200,000 annual turnover and two years’ operation.
- Applicants must not previously have received more than £25,000 in repayable finance, excluding Bounce Back Loans.
- State-funded primary and secondary schools are ineligible.
- Loans up to £250,000 are unsecured.
Applications are made online and considered by a funding committee. An additional support grant of up to £15,000 may be available to address areas such as governance or financial management. No closing date is currently stated.
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