As has been widely expected, new funds have come onstream to support the development and growth of healthcare social enterprises. See the coverage here in Third Sector Online.
Offering grants of between £50,000 and £150,000 as well as loans, the £12m Capital Growth Fund is an extension of the existing Social Enterprise Investment Fund and will be managed jointly by the Social Investment Business and Local Partnerships.
Qualifying expenditure under the Capital Growth Fund includes:
- Property or land purchase
- Some fees relating to capital projects including solicitors, architects and surveyors
- Property renovations and refurbishments
- Purchase of vehicles
- Equipment for delivery of services e.g. fixtures and fittings
- IT equipment
To qualify for funding applicants must be able to grow their businesses, have existed for more than twelve months, and be unable to access capital from commercial sources. The deadline for aplications is noon on the 16th September 2011.