Liverpool launches first ‘local impact fund’ for social enterprise and non-profit loans

Liverpool, Manchester, Cheshire, Cumbria, Warrington, Lancashire and eleven other Local Enterprise Partnership areas are planning to establish ‘local impact funds’ (LIFs) using European Structural Funds, in some cases — as with Liverpool — matched with loan finance from the Social Investment Business (SIB).

Liverpool’s LIF will be the first in the country. It will use £1m of European structural funding plus £1m from the SIB and make unsecured loans of up to £250k to social enterprises and charities over the next five years.

The story is covered here in Third Sector Online and here on the SIB website, with more information about the Local Impact Fund model here.

 

Birmingham UK. Freelance research, evaluation and policy consultant specialising in social enterprise and the third sector. I maintain the BSSEC blog and website

Leave a Reply