A new investor in the social sector has just launched – Big Society Capital. “We enable organisations tackling social issues to grow by encouraging investments made for social as well as financial return”.
As a body the organisation is purposed with only lending capital to social investment finance intermediaries (SIFI’s). This is a range of UK organisations who offer social investment to, and seek ethical and financial returns from, frontline Thirdsector organisations.
The Big Society Capital organisation will invest a minimum of £500,000 and a maximum of £15 million, dedicating their funding across a broad aspect portfolio of projects.
There is no doubt that, if this is new money, then intermediary organisations who seek to lend to and develop infrastructure projects with the Third Sector now have an exciting new source of funds to deploy. If theIr applications and business plans are rigorous enough.
For smaller charities and social enterprises one interesting aspect of the Big Society Capital web site, although excluded from BSC funding, is that smaller organisations can access a database of advice, guidance and finance providers to the sector.
This resource can be searched whether looking for grants, business advice or investment. You can find the BSC database here. A really useful, one stop tool we think for smaller charities or social organisations.
Free to use too.