Social Investment Business (SIB) has announced emergency funding available for UK charities and business enterprises. The Resilience and Recovery Loan Fund (RRLF) has already approved loans and grants totalling £13m to 35 organisations and has another £12m still available.
- Funding packages from £100k to £1.5m
- Loans available from 1 to 5 years
- Assessed on a case by case basis alongside the loan, grants that are awarded range in size from £40k - £300kand can be 20% to 40% of the loan amount.
- All loan interest and fees covered by the government for the first 12 months
- All loans come with a 12-month capital repayment holiday and no early repayment fees
- Loans up to £250k unsecured, and above that a simple fixed and floating debenture will be taken
- All purposes considered except refinancing existing debt
The deadline for applications is 5pm on 13th November. Find out more information and apply here.