The blog by the ACCESS Foundation for Social Investment tells the story of their Covid Emergency Lending programme which was launched in the early stages of the Covid pandemic in May 2020.
The aim of the programme was to support immediate short-term emergency borrowing needs and ensure that more of those that needed repayable finance to survive could access it, even if their future income streams were damaged or uncertain. In total, five social investors distributed over £5.5 million in grants to 70 organisations, unlocking £21 million of investment. The blog outlines the insight and learning that may apply to other emergencies or crises.
In terms of who benefitted, those supporting people into employment, education or training received the most support, followed by those working in arts, heritage, sports and faith and mental health and well-being.
Chanctonbury Leisure Centre, based in Storrington, Sussex, worked with Eastside People consultants to develop a funding plan and social investment proposal to cover the relaunch of their services post-pandemic and facilitate the upgrade of their outdoor sports pitch to attract more trading income. This resulted in a loan of £100K and a £50K grant from the Covid Emergency Lending programme.
Read the full story and analysis of the ACCESS Foundation for Social Investment Emergency Lending Programme.
We are delighted to have played a part in helping the Chanctonbury Leisure Centre make a successful application for funding.
Read the Chanctonbury Leisure Centre case study.