Charities can now apply for vital funding to help them stabilise and manage cash flows through the crisis
Vital funding which aims to support charities through the coronavirus crisis has been launched.
The Third Sector Resilience Fund (TSRF) is a £20m emergency fund for charities, community groups, social enterprises and voluntary organisations working in Scotland.
The fund will support organisations that already deliver services and products but find themselves in financial difficulties directly as a result of the coronavirus pandemic. The primary intention of the fund is to help voluntary sector organisations to stabilise and manage cash flows over this difficult period.
The fund will be delivered by Firstport, Social Investment Scotland and the Corra Foundation and will provide grants between £5,000 and £100,000.
In addition there will be up to a further £5m available in fully flexible, 0% interest loans starting at £50,000. The fund will be complemented by specialist business advice from Just Enterprise to help grant recipients maximise the impact of the financial support.
To be eligible, interested organisations must be:
- a charity, social enterprise or voluntary organisation based in Scotland and/or primarily delivering services/activities in Scottish communities;
- already delivering those products or services prior to March 2020;
- and needing funding to stabilise cashflows directly as a result of the impact of COVID-19, as opposed to pre-existing financial difficulties
In order to apply, organisations must complete a short eligibility checker to assess their suitability for the fund. Based on the answers provided, interested applicants will be directed to the correct application form depending on their needs or signposted to other sources of relevant funding/support.
The Covid-19 Third Sector Information Hub allows groups to share what non-medical help they can offer to the public and other organisations
It also enables groups to share what assistance they require and find offers of help between organisations.
At the same time, the public can access it to search for support from organisations in their community, using a geographical search and to find information on how they can volunteer or help in their community.