A new Social Enterprise investment fund is being launched by Plymouth City Council to help social enterprises develop.
A fund of £500,000 is now available for social enterprises to access a bespoke support package to help their ideas become a business reality.
The fund will be a mixture of grant and loan and each investment assessed on a case by case basis. It is envisaged that £300,000 will be allocated as repayable loans and £100,000 allocated as grants and £100,000 will be allocated on investor readiness business advice. Download the flyer here.
Invitations of expressions of interest are welcome for both revenue support (between £5,000 and £10,000) or capital support (up to £100,000). Groups interested in applying for the funding under the Social Enterprise investment fund should email firstname.lastname@example.org.
The fund was launched on Monday 7th April at Network members, Effervescent‘s new base at the old Halifax Bank on Derry’s Cross, in premises made available by the Plymouth Your Space project, and which they are aiming to turn into an art gallery, rehearsal/making space, tea room, and creative business incubation hub.