Key Fund, a long-standing investor in community and social enterprises, is delivering the Northern Impact Fund, aimed at new and early stage enterprises who are seeking finance to support growth.
Matt Smith, CEO of the Key Fund, said: “With this fund we’re offering finance of up to £150k, but typical investments will be around £50k, with up to 20% of the amount available as grant. The Key Fund was one of the early pioneers in this space, and our original model was based on a grant and loan mix, so we’re really excited to be going back to that original model. It’s long been our belief that grants can play a very important role in helping new and smaller social enterprise become more robust.”
Source: The Key Fund web site – thekeyfund.co.uk Accessed 25.09.2016
A new blended grant and loan fund, the Key Fund package looks to secure sector deals in the £5,000 to £150,000 range. Applications are accepted from across the North and Midlands, with the Fund looking to realise 46 deals a year.
At a flat rate of 6.5% interest, the average loan term secured is expected to be three years.
Interested in business development on these terms, as a social/community enterprise. See the links below…