Fund title: Resilience and Recovery Loan Fund
Focus of fund/fund aims:
Emergency loans with flexible terms for social enterprises and charities that are experiencing disruption as a result of COVID-19
Applications can now be made to the Resilience and Recovery Loan Fund (RRLF). RRLF is a new £25 million emergency fund, which will provide repayable finance to charities and social enterprises directly affected by the COVID-19 crisis. The loan fund is being managed by Social Investment Business.
Loans can be used to provide working capital until normal business resumes, cover delays in trade payments, or meet the increased demand for services, without requiring personal guarantees and without fees or interest for 12 months. Big Society Capital has provided an initial £25 million in funds, with loans backed by the Government’s existing Coronavirus Business Interruption Loan Scheme.
Charities and social enterprises can apply for emergency loans between £100,000 and £500,000.
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