The Third Sector Loan Fund has been set up by fund management company Social and Sustainable Capital (SASC) with financing of £13.5 million from the high street bank Santander, £15 million from the social investment bank Big Society Capital and £1.5 million from the social finance company Social Investment Business (SIB).
Loans of between £250,000 and £3 million are available to support registered charities and social enterprises working to improve the economic and social well-being of individuals, particularly those who are vulnerable and disadvantaged, within the UK.
The funding is aimed across diversified sectors such as, but not limited to:
- Education and training
- Disability services
- Children and families
- Criminal Justice
- Social and Financial Inclusion
- Community Development
The loans can be used for working capital, growth capital, property purchase or renovation and other capital expenditures.
Secured and unsecured loans of between £250,000 and £3 million are available at annual interest rates of between 6% and 12%.
Full details on their website