On this page:
"The Annual Small Business Survey 2005 showed that there are at least 55,000 social enterprises in the UK with a combined turnover of £27billion per year."
Funding
Useful Links
Prime Initiative Are you 50+, thinking of starting a business, but have little money to start up? If so you may be eligible for the PRIME programme. The programme is designed to:
- Help you develop your business idea
- Produce a comprehensive business plan
- Provide ongoing mentoring and support, once you have got up and running
If you are unable to get a Bank loan you may also be eligible for a PRIME Business Start-Up Loan. PRIME is a national not-for-profit registered charity, encouraging the over 50's to set up in business and is offered in this area by 1066 Enterprise. If you want to find out more about Ten Sixty Six PRIME and how it might help you achieve your business idea, then contact Mike Trotter on 01424 205505 for a free, confidential discussion, or use the More Information Form. Prince's Trust Advice and support for disadvantaged young people from 18 to 30 looking to start a business. Contact 01273 723339 www.princes-trust.org.uk Fredericks Foundation Business mentoring and funding for unemployed, single parents and ex-offenders. Contact 01276 472722 www.fredericksfoundation.org
Funding Sources - Small Business
A list of useful funding sources for small businesses can be found on the
Small Business Services Website: http://www.sbs.gov.uk
Capitalise Business Support Ltd
Capitalise Business Support Ltd is a not for private profit organisation. This means that all funds are reinvested for the benefit of our clients.
We are a subsidiary of Ten Sixty Six Enterprise Limited, the local enterprise agency for Hastings and Rother. Ten Sixty Six Enterprise has a well-established, comprehensive programme of support for those who wish to start up a new business and also to provide ongoing guidance and support for established businesses. Capitalise Business Support Limited is also partnered by the other Enterprise Agencies and Enterprise Gateways in East and West Sussex and across Kent.
Our scheme is aimed at helping micro, small and medium enterprises and social enterprises in order to achieve positive social change and to bring wealth to disadvantaged communities.
Loans may be provided to assist businesses and social enterprises start up and, if established, to grow and prosper. Once the loan has been provided we will provide invaluable mentoring support throughout the term of the loan. With the support of our partners we are also able to tap into their services too. Loans will range from a minimum of £3,000 up to a maximum of £25,000. Loans will be repayable over a term of between 6 months and 60 months.
Capitalise Business Support Ltd
Summerfields Business Centre,
Bohemia Road,
Hastings,
East Sussex,
TN34 1UT
Hastings Trust
Innovative Finance (IF)
"IF" you are a community group or social enterprise
"IF" you are unable to get a loan from a bank
Maybe we can help!
"Innovative Finance" is a community development finance Initiative (CDFI) specifically designed to assist social enterprises and community groups to expand. It has been set up by the Hastings Trust to support the regeneration of Hastings and St Leonards.
Who can apply?
Properly constituted community groups and social enterprises based in Hastings & St Leonards who can show that their activities are of social benefit to the community
What can I use the loan for?
- Building refurbishment
- Purchasing of stock, equipment or furniture
- Bridging financing
- Growth and expansion
How much can I borrow?
Loans of up to £2000
For more information please contact:
CDFI Worker
Innovative Finance
Community Regeneration Unit (Hastings Trust)
34 Robertson Street
The America Ground
Hastings
TN34 1HT
Tel: 01424 452528/446373
Email: if@hastingstrust.co.uk
South East Community Loan Fund
Dates
Last update : 03 July 2006
Description
Financial assistance is available to support social enterprises and small and medium enterprises (SMEs) working in deprived areas of the South East of England.
Availability
Stage : Established
Classification
Inward investment : No
Scope : Regional
Status : Open
Currency : GBP
Value of the Grant
Maximum value : £100,000
Minimum value : £10,000
Extended description
The South East Community Loan Fund has been launched to boost the competitiveness of social enterprises in the South East and SMEs working in poorer areas of the region. The Loan Fund will address a key barrier to growth experienced by many social enterprises and SMEs trying to make positive social and economic contributions in deprived areas, who are unable to secure funding from traditional financial institutions.
South East of England Development Agency (SEEDA) has created the Loan Fund with a capital endowment of £500,000. This investment establishes the loan fund as the first regional Community Development Finance Initiative (CDFI) in the South East. CDFIs are a recognised and credible financial tool for galvanising social, economic and physical renewal in under-invested communities. They lend and invest in disadvantaged areas where organisations find it difficult to access traditional everyday sources of business finance. The primary focus of the CDFI is to generate both social and financial returns
Key criteria
The loan fund will be targeted at the following organisations in the South East:
- Registered charities, 'not for profit' organisations, companies limited by guarantee or the trading arm of a charity.
- Small to medium sized companies making an economic or social impact and difference in disadvantaged communities.
- Social or community enterprises contributing to the regeneration of their local communities.
In each case the organisation will be unable to secure sufficient finance from commercial sources of funding.
Eligible expenditure
Loans will be given for:
- Capital equipment.
- Property purchase or refurbishment.
- Bridging finance.
- Working capital and cash flow support.
Application procedure
Applications for the South East Community Loan Fund by social enterprises should be made direct to the Local Investment Fund.
SMEs working in deprived communities should contact Finance South East.
Further information
Addresses and contacts
Provider
Finance South East Limited
Telephone : 01344 758540
Fax : 01344 762002
Administrator
Sarah-Jane Davis
Local Investment Fund
PO Box 616
East Grinstead
RH19 3GZ
Telephone : 01342 851 225
Fax : 020 7680 1028
Email : sj.davis@lif.org.uk