Fund title: Community Business ReBoost Fund
Focus of fund/fund aims:
Grant funding and matched equity investment to help existing community businesses to prepare a community share offer to support their recovery from the COVID-19 pandemic
There are three deadlines: 2 December 2020; 6 January 2021; and 3 February 2021
The Community Business ReBoost Fund aims to support community businesses to raise funds by issuing a community share offer so that they can recover and adapt following the Covid-19 pandemic.
The programme is designed to support businesses that are locally rooted, accountable to the local community, trading for the benefit of the local community and with a broad community impact.
Power to Change has allocated £375,000 to support community businesses through grant funding and matched equity investment. Additional business development support may also be provided where required, particularly to help community businesses operating in deprived neighbourhoods, or those led by and supporting BAME communities or disabled people.
The ReBoost fund can provide:
- Development grants – between £3,000 and £5,000 to prepare a community share offer
- Match equity investment – for every pound raised through community shares, ReBoost will match it up to £25,000
To issue a community share offer, you will need to be incorporated as one of the following:
- Community benefit society
- Co-operative society
- Charitable community benefit society
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