The Forward Trust and Social Investment Business have launched the Forward Enterprise Fund. This will support enterprises and charities run by, or creating employment opportunities for, people with convictions and people in recovery from addiction. Successful applicants will receive a tailored mix of support to help grow their business. Repayable finance and grants for business support are available for start-ups with ideas they wish to develop through to established organisations, social enterprises and charities looking for investment to expand and grow.
The Fund provides access to unsecured loans between £25,000 - £150,000 for revenue and / or capital projects (typical interest rate 7.5%) for up to a 5 year term.
Eligible organisations will also have access to grants to pay for up to 10 days of
pre-investment business support. Organisations which receive investment will also be able to apply for post-investment business support.
Typical business support could include:
financial modelling and forecasting, strategy and business planning, resource planning, pricing, social impact planning and measurement.
Eligible start-up organisations will have access to grants of up to £5,000 to use as match funding on Crowdfunder.
Applicants are eligible to apply for a loan or grant with the Forward Enterprise Fund if the following apply:
The applicant's business or organisation must be within England
The applicant's business or organisation must be working with or intending to work with ex-offenders or people in recovery from addiction, creating employment opportunities for people from these communities.
Led by ex-offenders or people in recovery from addiction.
It is anticipated the fund being open for applications until October 2020 and you can submit an application at any time.