We are delighted to announce that following three successful rounds of our SE-Assist Fund in Wales, we are opening up the fund again on 1 July 2019 for a chance to present at a pitch day in Wales on 30 October. Applications close at 5pm on 27 August. You could be able to access up to £30,000 at 0% interest, with a package of non-financial support, to help your social enterprise grow.
The SE-Assist Fund helps social organisations with a clear social or environmental impact, that have an annual turnover of less than £500,000 and are working towards a sustainable business model. We offer interest free loans of up to £30,000 (but can offer up to £60,000 at 6.5%) repayable over 3 years to help with cashflow to build long-term sustainability or development finance to help you grow. Working with our local delivery partners, we offer our investees access to a bank of experts and an experienced mentor who provides business experience and guidance.
Since launching in 2012, in Wales, the fund has committed £367,000 to 14 organisations over 3 investment rounds. Investees are small and medium sized with an annual turnover under £500k. Together they are a vital force in supporting vibrant communities, creating job opportunities and building a diverse and inclusive local economy.
Based on collaborative partnerships between business, the public sector, and community stakeholders, which include Legal & General, the Welsh Government, the Institute of Directors Wales, the Wales Co-operative Centre, Business in the Community Wales, SE-Assist is locally focused. The investment decisions are made by a locally based Social Investment Committee ensuring support is responsive to needs in the community.
For more information and to register your interest visit our SE-Assist page.