Boost for the sector
A new investment programme has been created to support Scotland’s third sector.
Foundation Scotland will begin offering social investment opportunities to social enterprises in Scotland from today, 4 May.
The move comes as Foundation Scotland and Resilient Scotland announce their integration. Social investment, offered through the experienced Resilient Scotland team, will expand on the community foundation's core grantmaking services providing access to a greater range of funding options.
The new 'Investing in Enterprise Fund’ offers between £10,000 and £500,000 to social enterprises as blended finance.
Up to 50% of the funding will be through grants with the remainder through loans, enabling them to become more sustainable, accessing opportunities less reliant on grant funding. Support will help successful applicants to raise funds and only repay part of the total sum. Foundation Scotland will reinvest all returned funds for additional social investment.
Chris Holloway, head of social investment at Foundation Scotland, said: "The integration of Resilient Scotland into Foundation Scotland makes perfect sense for us as an organisation.
“However, most importantly, the move will offer significant benefits to Scotland's thriving social enterprises. Collectively our knowledge, support and experience will enhance the holistic support provided to Scotland's social enterprises.
“Groups will be able to come to Foundation Scotland for traditional grants, which they continue to need, and now also innovative investment opportunities.”
Giles Ruck, chief executive of Foundation Scotland, said: "Across the last few years, we have witnessed a shift change from our donors. They have understood that the funding landscape is changing, and they've shown an increased appetite to provide communities with wider, longer-lasting funding opportunities.
“Across our 25-year history, we've never been needed more. We understand that the sector needs our committed, innovative support to help them build back better. Our integration with Resilient Scotland will support this and will bring many benefits to the third sector.
“We are encouraging all social enterprises that are looking for additional investment to visit our website or contact our team directly to discuss your eligibility".
Foundation Scotland is offering social investment opportunities across 13 of the most disadvantaged local authority areas across Scotland and expects to extend the service to the whole of Scotland at a later date, and welcome even more new enterprises to Foundation Scotland.
Later this month, the foundation will be publishing a full evaluation highlighting the impact of Resilient Scotland's social investments since 2012.