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.
This programme is now open to applications from social investors wishing to set up a fund. Please read below to access the key documents and to find out how to apply.
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)
As of 11th April 2022 the programme is open to expressions of interest and applications from social investors wishing to set up a fund. Please find the relevant documents below. Social investors who are interested in this programme are encouraged to submit an EOI by 31st May 2022 if possible. You will still be able to submit an EOI after this date, however it will be in applicants’ interest to register their interest as early as possible as we expect to start receiving full applications and making grant commitments from May/ June onwards.
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.
Upcoming IC dates are as follows (please note that these are subject to change):
- 20th May 2022
- 17th June 2022
- 1st July 2022
- 15th July 2022
- (more dates will be added shortly so please check back soon)
Please note that EOIs and applications will need to be received in good time ahead of IC dates for review, finalisation and forwarding to IC members in advance of meetings. If you would like your EOI/ application to be considered by the IC on a particular date please contact us well in advance of that date so that we can confirm that that will be possible and agree a submission timeline with you.