Government unlocks further funds to help charities and social enterprises

Article date
21 May 2020
Primary interest
Voluntary sector

The government announced yesterday that a further £150 million will be unlocked from dormant accounts to help charities, social enterprises and vulnerable individuals during the coronavirus outbreak.

The funding will support urgent work to tackle youth unemployment, expand access to emergency loans for civil society organisations and help improve the availability of fair, affordable credit to people in vulnerable circumstances.

  • £10 million will be brought forward for the Youth Futures Foundation to help organisations who support unemployed, disadvantaged young people across the country into jobs.
  • £45 million will be deployed by Big Society Capital to allow better access to investment including emergency loans for charities, social enterprises and some small businesses facing cash-flow problems and disruption to their trading following the coronavirus outbreak.
  • Fair4All Finance will use £65 million to support affordable credit providers to increase access to fair, appropriate products and services for those struggling financially, providing them with an alternative to high cost loans.
  • £30 million will go to Access – The Foundation for Social Investment who will support social enterprises helping people in vulnerable circumstances.

Read the full announcement here.

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