COVID-19 Emergency Lending

The Emergency Lending Programme is now closed.

The Emergency Lending Programme (now closed) was set up as an immediate response to the challenges faced by some charities and social enterprises navigating the early stages of the Pandemic. The aim was to ensure that more of those that could utilise repayable finance as part of their response could access it, even if their future income streams were damaged or uncertain. 

The programme supported existing social investors by offering additional subsidy. The subsidy was used to address the risk of lending at that time - many charities and social enterprises needed loan finance, but income streams were incredibly uncertain, and social investors were in the position of having to turn down many applications for loans as the need for finance outstripped the likely ability to repay.  The Emergency Lending programme helped to bridge that gap, and ensure that social investors could offer the finance, rather than having to turn it down. 

How the programme was funded 

Access received £30m from the Dormant Assets Scheme at the start of the COVID pandemic in 2020. This funding was to support charities and social enterprises with social investment—helping them to survive, adapt, and recover.

We used this funding in two ways:

1)    £6 million to rapidly increase the availability of emergency loans in 2020

2)    £23 million to develop longer-term “patient capital” products to support recovery and growth (see “Flexible Finance”)