Home Social Social lender launches new funding challenge
Opportunity for charitable organisations to secure between £100,000 and £1m of investment to grow their businesses in 2018
Responsible finance provider Social Investment Scotland (SIS) has launched a new funding challenge to help third sector organisations who are looking to grow or replicate their business in 2018.
The Growth and Replication Challenge is a competitive opportunity open to charities and social enterprises, across Scotland, who have developed strategies for growth and replication. This could include, for example, a community sports club which is looking to grow its services and capabilities or a social enterprise food and drink business looking to expand its offering in a new area. The challenge will provide bespoke business support from SIS, alongside tailored finance, to turn their plans into reality.
Successful applicants will receive professional business support worth up to £10,000. The support programme will help to address issues including social impact, governance, products and services, people and skills, business planning, sales and marketing as well as financial controls.
The Growth and Replication Challenge also offers tailored finance packages and successful applicants could receive between £100,000 and £1M of investment. Finance can be obtained with up to 3 years patient arrangements to allow the new development to get up and running and up to 13 years fixed term to provide confidence on future costs.
Alastair Davis, CEO of Social Investment Scotland, said: “We are delighted to launch the second round of our Growth and Replication Challenge. We know there are hundreds of talented organisations across the country with big ideas and the right people to deliver them, but they just need advice and finance to bring these plans to fruition. That’s where the Growth and Replication Challenge can help.”
To take part interested parties need to complete Social Investment Scotland’s new Investment Readiness Diagnostic Tool and send their results along with a short Expression of Interest to SIS by the 11 December 2017.
For more information or to enter click here