Deanne Dunstan at iSE has just rushed over the following news. This further clarifies the ‘investment’ products available under the Dept of Health Social Enterprise Investment Fund, mentioned here and confirms that there is a ‘loan-free’ grant element to the fund targetted at ’emerging SEs’ in health and social care:
Just had a conversation with someone at the DoH regarding their social enterprise investment fund.
Thought you might be interested in knowing that Department of Health’s ‘Emerging Enterprising Fund’ is grant based – upto £30k (no loans involved). It is for enterprises less than 12 months old who are working in health and social care and whose trading income to date is less than £20k; those who are working around personalisation are a particular priority ( im thinking Natasha Cotterell). There are no forms to complete but the process takes about 12 weeks from someone making the initial enquiry to the grant being awarded (so short timescales)
Individuals need to ring the enquiry line 0191 269 2276 – they will be asked questions re eligibility etc and about their proposal; if they are eligible etc they will then be asked to submit certain documents etc etc; then there may be other phone calls ..then their case is all written up and presented to a committee who make the awards..in effect the people you talk to will advocate on your behalf.
I think it will be useful if we let anyone who may be eligible know about this asap as I am guessing that many will miss the fact that it is a grant not a loan
The Outreach Fund is also grants, again upto £30k (any age social enterprises) but this is for organisations to develop new products and services for those who are socially or geographically excluded. The guy I spoke to at DoH said there was a lot of competition for this fund and therefore those wanting to apply would have to make a very good case for support – but again it’s the same process, ring up and put your case forward. I am sure there must be organisations working with particular socially excluded groups who could benefit from this. Again I think personalisation agenda is the priority.
Please note — enquiries should either be directed to the hotline number Deanne gave above (0121 269 2276) or check The Social Investment Business website (the manager/distributor of the funds) where there is an explanation about each of the funds here. Thanks, Deanne.