Power Up Midlands is the third iteration of Big Issue Invest’s early stage investment programme. Up to 15 social enterprises and community businesses across the Midlands will be able to access funding and support.
Power Up Midlands is aimed at early-stage social and/or community enterprises in the geographical area of the Midlands. The offer is open to all legal structures and consists of up to £50,000 debt financing accruing at 5% per year.
The loan has a capital holiday period of one year with loan lengths expected to be four years. Big Issue Invest’s corporate partners — Barclays and Experian — will support applicants with mentoring and business support, including financial modelling and other ad hoc business services and functions.
The support element of the programme will consist of a two month period with bi-weekly meet-ups to develop the investment proposition in partnership with the business mentors. Investment decisions will be conducted at the end of this process.
The programme is for those that have a patient capital requirement as they develop their product and service offering. Big Issue Invest is also keen to identify social businesses looking to lock in their community structures and would be happy to support them with this through its partnership with Power to Change.