Third Sector Online today announces that Communitybuilders has reopened for business as a permanently endowed £27m fund dedicated to providing mixed funding (grant, loan, match) to community-led ‘anchor’ organisations with major, sustainable regeneration and growth plans. Finance packages are in the order of £250K-£750K and the search is on for the Fund’s first six “flagship regeneration projects”.
- independent and community led organisation which are not controlled by the private or public sector
- organisations operating for the benefit of a defined neighbourhood in England
- locally controlled organisations with local people or local representatives making priority decisions
- multipurpose organisations providing or hosting a number of different activities
- organisations unable to secure funding from a commercial funder or unable to fund the proposal from unrestricted reserves
- proposals to help organisations work towards long term financial sustainability
- organisations with a sensible business and financial plan that is well developed and tested and is achievable
- organisations with proposals for which funds can be drawn down and spent within 12 months of approval, for the long term benefit of the organisation
And is particularly interested in applications from organisations that:
- are based in areas of high deprivation like the 20% most deprived areas in the IMD.
- can demonstrate a high degree of unmet social need in their neighbourhood and have a specific plan in place to meet these needs. This might include areas that have suffered in the recent riots in 2011
- already have or plan to raise financial community contributions as part of their overall funding requirements.
Strangely, I can see no mention of the initial deadline for applications.
Long-term sustainability, income-generation, the delivery of social benefit and an ability to service debt finance (where this is an element) as well as offer matched community funding are writ large in just about every aspect of this fund.
Update: Pauline Roche says: The deadline for completed applications is noon on 9 December 2011. You will know if your application is to be progressed to Stage 2 by 31 January 2012 at the latest.