Communitybuilders, a fund that supports community-based and community-led organisations in England, opens for applications at noon on Monday. Awards will be made to up to six of the most promising examples of sustainable, community regeneration projects who will become flagship investees for the new era of the Fund, endowed to the Adventure Capital Fund (ACF) in March this year.
Communitybuilders is offering predominantly loans to organisations that are seeking to become more sustainable and independent and that can demonstrate they are having a significant positive impact in their communities as providers of multiple services and facilities. The Fund, managed on the ACF’s behalf by The Social Investment Business, will provide capital funding to community enterprises that have operated for at least 12 months and are looking to build their long term financial viability and increase their ability to deliver significant social impact in their communities.
Investments can be used for property renovations and refurbishments, land or property purchases (and some related fees like architects and surveyors), purchase of vehicles, IT equipment and fixtures and fittings. The minimum that can be applied for is £250,000, the maximum £750,000. The ACF is looking to be a co-funder, with Communitybuilders awards making up between 20-50% of any individual project’s total costs, and is willing to act as both a first brick or a last brick in a funding package.
Chief Executive of the Adventure Capital Fund Jonathan Jenkins said:
“To start this new era of Communitybuilders we are looking to invest in up to six exemplary projects.
“We want to hear from established organisations that are able to demonstrate impact in their communities and credible plans for financially sustainable initiatives. Our mission is to support community organisations that are looking to both expand and become more financially independent but who can’t access commercial loans.
“We are looking for high quality applications from organisations who are perhaps contemplating taking over an underused or derelict neighbourhood building, expanding the services they offer from their current headquarters or building new facilities. We’re particularly interested in supporting community anchors based in the most deprived neighbourhoods, those affected by the recent riots and those that can provide financial community contributions.
“With this first round of funding we want to support high calibre projects that can lead the way for Communitybuilders cementing its position as a long-term legacy fund for community organisations – working in partnership with other social investors and providing an evergreen source of funding for the future.”
For more information, including an eligibility checker, the application form and guidance notes visit www.communitybuildersfund.org.uk/cb
The Communitybuilders Fund was endowed to the Adventure Capital Fund (ACF), a registered charity, by the Department for 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.
There will be further opportunities for community organisations to access Communitybuilders funding next year, including different financial products such as feasibility grants for organisations looking to develop their enterprise plans.
Notes to editors
1. For further information or interviews, please contact The Social Investment Business press office:
Liz Banks - 0207 842 7726/ 07809 504072
Nicola Jones - 0207 842 7755
2. The ACF has been making investments in community enterprises since 2003 and offers a range of investment tools and support services to organisations looking to develop income streams that enable them to stand on their own two feet. For further information visit: www.adventurecapitalfund.org.uk
3. The Social Investment Business, the largest social investor in the UK, exists to help social enterprises, charities and community organisations do more of what they do best – supporting people and communities most in need. We help organisations prosper by providing innovative financial solutions, business support and long term strategic thinking.
3. The Social Investment Business manages the Futurebuilders Fund and the Social Action Fund on behalf of The Office for Civil Society, the Social Enterprise Investment Fund for the Department of Health the Communitybuilders Fund which was endowed to parent charity the Adventure Capital Fund by the Department for Communities and Local Government. We have over 1,100 active investments which range in size and scope from, for example, £3,600 to help a small organisation bid successfully for a public sector contract, to £6.7million to help a large national charity establish and develop innovative new services for children and young people.