Enterprise Growth for Communities (EGC) is a new programme (launched April 2022) that will strengthen communities through building resilience in charities and social enterprises.
Managed by Access and delivered by our social investor partners, the fund will look to expand the reach of social investment to smaller organisations or those based in disadvantaged areas, supporting trading charities and social enterprises that are looking to grow or diversify their business models.
With £20 million from the Dormant Assets scheme, the programme will combine grant funding with repayable finance – leveraging over £60 million for charities and social enterprises through co-investment and recycling.
By blending funds in this way, we can significantly increase the availability of finance to charities and social enterprises and help to improve the lives of people and communities.
Programme status & updates
During February and March 2022 we conducted a consultation process to inform the design of this programme. This blog and this report summarise what we heard during the consultation and how that informed the design of the programme.
If you are an investor and would like to find out about the opportunity to provide capital into one of these funds please get in touch – we would be happy to speak to you about the programme and can help put you in touch with social investor fund managers if desired.
If you are a charity or social enterprise looking for social investment please note that the investment funds established under this programme will likely not open until late-2022/ early-2023. In the meantime please visit the Good Finance website for other sources of social investment.
Information & how to apply (for social investors)
The programme opened on 11th April 2022 to Expressions of Interest (EOIs) and Applications from social investors wishing to set up a fund. As of 1st August 2022, the programme is currently closed to further EOIs. There is a possibility that we will reopen to further EOIs in the future, but this is not guaranteed. Any further EOI windows will be announced on this page. All social investors who have already submitted EOIs (and have had these confirmed by Access as eligible) can continue to progress and submit their full applications and there is not currently a deadline for doing so, however we encourage applicants to keep Access informed of the timelines that you are working to.
The Investment Policy for the programme can be found here. This outlines the aims and objectives of the programme and provides guidance around programme parameters – please read before applying.
The Application Form for full proposals can be downloaded here. Unless otherwise advised, please submit an EOI prior to embarking on a full application.
To submit an EOI or application, or if you have any questions, please get in touch here or via. your Access contact.
Members of the Blended Finance Investment Committee
Franz Ranero- Chair
Anna Shiel– Head of Origination at Big Society Capital
Bayo Adelaja– Founder and CEO of Do it Now Now. Bayo has some significant trustee roles in high profile organisations as well as experience in working with foundations to advise on EDI policies and creating new funding programmes to specifically support the BAME sector with COVID response.
Bonnie Chiu– CEO of The Social Investment Consultancy and a founder of the Diversity Forum for Social Investment. Bonnie has been involved in a number of other specific projects within the social investment space including supporting BSC on the Women in Safe Homes fund.
Alastair Davis -CEO of Social Investment Scotland (SIS) and has been at SIS since 2009. He has been involved in the design and development of a number of social investment programmes in Scotland and beyond. Alastair is also a founding director of SIS’s subsidiary SIS Ventures, making equity investments in impact led enterprises in Scotland. Alastair is also on the advisory board of Scottish EDGE who make grant/loan blend investments in early-stage companies.