Apply Now! -
After two highly successful rounds of funding, the Social Enterprise Assist Fund is launching in Wales for the third time this month!
Ten social enterprises in Wales have already benefitted from this fantastic scheme and now’s your chance to join them.
If you need money to become more sustainable or increase your business capacity, and expert mentoring to help you focus your direction and growth plans, then you should seriously consider applying for this localised social investment initiative.
Successful applicants will receive:
- An interest free loan from £10,000 – £30,000 (with the potential to borrow more at 6.5%)
- Expert business mentoring support
- Access to professional advisory services and a cohort of local ambitious social enterprises.
Even the process of application itself can be beneficial, helping you evaluate your current position with feedback from funders.
Social Enterprise Assist Wales is managed by Legal and General, CAF Venturesome and the Wales Co-operative Centre, with support from Welsh Government, Business in the Community and the Institute of Directors. The team behind the Social Enterprise Assist Wales fund really believe that affordable finance, paired with local business support, gives social enterprises the greatest chance of success in scaling their impact and boosting their communities.
Applications open on 17 April and close on 18 May. To apply, please visit the SE Assist Wales website.
Essential Eligibility Criteria
- Based in Wales
- Have, or be working towards, a sustainable business model evidenced by trading and/or funds raised
- Have a social impact that addresses a local social or environmental need
- Turnover less than £500,000 per annum
- SE-Assist uses charitable funds to invest in social enterprises. All social enterprises with legal structures other than registered charities, will be subject to CAF Venturesome’s charitable validation process.
What can you prepare now?
Once applications open, you will be able to download the form from the SE Assist Wales website.
Along with this form, you will need to submit your governing document (memorandum and articles of association) and a cash flow forecast that covers the timescale in which you intend to repay the loan.
The application form, governing document and cash flow forecast, are the only mandatory documents you need to submit. However, additional documents which would be welcomed in support of your application include:
- A business plan
- Information on the social impact of your social enterprise
- Your latest management accounts (profit and loss balance sheet)
- Historical cash flow statement for the last 12 months
- Up to three year’s worth of annual accounts
- CVs of key team members
- Any further information you feel would support your application.
Interested in applying?
We encourage you to take advantage of this excellent opportunity by registering your interest today. That way we can remind you of the opening date and send you helpful information on how to write a successful application.