In partnership with Northstar Ventures, the Community Foundation Tyne & Wear and Northumberland, announces a grant opportunity to North East charities and community organisations alongside loans provided by the North East Social Investment Fund (NESIF).
The fund will award approximately £200,000 in grant funding until December 2024 to lower the barriers community businesses face when accessing finance. By partnering together, our intention is to better support communities in the North East of England with a blended finance offer increasing the social outcomes in the region.
Organisations will be assessed to receive grant funding alongside a new NESIF loan, with a maximum intervention of 25% grant on the first £150,000 of loan.
The grants, when combined with the eligible organisation’s NESIF loan, can be used to benefit the organisation by:
- assisting to overcoming barriers when accessing finance for the organisation’s work;
- providing additional intervention during the lifetime of the investment, addressing opportunities or challenges facing the organisation;
- increasing the organisation’s intended social impact;
- funding resource lead-in or development periods, including the costs of investee organisational development work and professional advice;
- supporting the viability of innovative or higher-risk work.
Grants will be restricted and are only to support activities related to one or more areas of social need which NESIF seeks to address: the reduction of homelessness, the reduction of debt and poverty, the improvement of health and social care needs, the improvement of mental health provision, the improvement of offender rehabilitation, the reduction of unemployment, and the regeneration of deprived communities.
You can find out more by visiting the Northstar Ventures website here: https://northstarventures.co.uk/funds/social-investment-fund