£20million Community Investment Fund

The £20m Community Investment Fund, which will make loans of up to £1million, to community organisations has been launched by Social and Sustainable Capital (Sasc).

The fund is the first fund launched by Sasc, which was set up in 2012 to provide social investment and is a social enterprise and a limited liability partnership.

The fund has received two promises of £10million support from social lenders the Social Investment Business (SIB) and Big Society Capital. Initially the two bodies have invested £3million each.

The fund will invest in charities, asset-locked social enterprises, and other bodies, which meet the Big Society Capital definition of a social sector organisation.

Investee organisations must be community-led, focused at a regional or local level, rather than a national one. Most investments are expected to be secured against the investee’s assets.

The fund is open for applications, and does not have a closing date.

For further information, including how to apply, visit http://socialandsustainable.com.