Applications open for £500,000 entrepreneurial projects fund
A Communitybuilders fund to support community based and led organisations in England opens today for applications for feasibility grants totalling £500,000.
Communitybuilders is looking to award between 20 and 30 grants and up to five days business support to “organisations looking to research and develop a sustainable and entrepreneurial idea that can positively impact local communities”. The closing date is noon on 13 April 2012.
Organisations can apply for a maximum of £25,000 and minimum of £10,000 in this round of funding, and should be “high quality with a proven track record in their neighbourhood”.
Caroline Forster, deputy chief executive of the Adventure Capital Fund (ACF) said: “We are looking for organisations that are looking to develop plans for services and activities that can generate income. This might include the purchase or refurbishment of property to help revenue generation or development of other ideas that will grow the capacity of the organisation and lead to new and diversified income streams. Successful applicants will have already developed an outline business plan that uses entrepreneurial methods to achieve social goals.
“Local community organisations that are in discussions with their local authority about asset transfers or service delivery opportunities may find the grants on offer of particular value. We hope that feasibility grant recipients may go on to access Communitybuilders main investment finance including loans or commercial finance from other investors.”
More detailed information, including an eligibility checker, the application form and guidance notes can be found here.
The Communitybuilders Fund was endowed to Adventure Capital Fund a registered charity, by the Department of Communities and Local Government in March 2011. The purpose of the endowment was to establish a long-term evergreen fund under stable and continued management, where loan repayments are recycled and can be reinvested in the sector. The Social Investment Business manages the Communitybuilders Fund on behalf of ACF.
This article is taken from www.civilsociety.co.uk – http://www.civilsociety.co.uk/finance/news/content/11634/applications_open_for_500000_entrepreneurial_projects_fund