Social Investment Business has announced that their Resilience and Recovery Loan Fund will close to new applications at 11.59pm on the 31st March 2021.
The £25 million fund provides emergency loans of between £100,000 to £1,500,000 with no fees or interest for the first twelve months to social enterprises and charities which are facing financial difficulty and disruption to their trading due to the coronavirus pandemic.
The Fund is intended to provide working capital until normal business can resume for organisations that are improving people’s lives across the UK. Loans, which are backed by the Government’s existing Coronavirus Business Interruption Loan Scheme, could be used to cover delays in trade payments, or for business modification to meet increase in service demand.
Applicants will be considered on a first come first served basis.