SIB announces £2m in Blended Grant Funding
14th April 2022
The Social Investment Business (SIB), Access – The Foundation for Social investment, The Ubele Initiative and Create Equity have today announced £2m worth of grant and support funding to be made available to be used alongside the Recovery Loan Fund to support Black and minoritised ethnicity-led charities and social enterprises based in and delivering impact in England.
The fund aims to begin to rectify historic underinvestment in Black and minoritised ethnicity-led organisations, and to respond to the disproportionate impact of Covid on those communities. Nick Temple, Chief Executive of Social Investment Business
This new grant funding from Access’ Flexible Finance programme will be deployed to address these historical imbalances, offering the following:
- Unrestricted grants alongside loans with up to 100% of the loan value if needed
- Bespoke business support
- Eligibility for RLF reduced from £400k turnover to £200k turnover
- Minimum loan size reduced to £50k from £100k
Applications close 20th May 2022.
→ Read more on the SIB website.
→ Application details and criteria can be viewed here.