How will the Reach Fund work?
The Reach Fund places the social lender at the heart of the process and asks them to design your investment readiness plan. We hope this will increase the chance of an investment being secured and offer good value for money.
We also hope that this approach will result in a smooth journey for charities and social enterprises seeking investment. If you require support after you have approached a social investor they now have an immediate route to offer further support.
Our phased approach
As this is a new model we are testing it to find out the best way to make it work. Therefore, we will be running the Reach Fund in a series of phases. With each phase we will hone the design and expand the scale of the fund.
- In phase one we worked with a small group of Access Points. They helped us work out the basic design of the fund. This took place in late 2016 and early 2017.
- In phase two we recruited a larger group of Access Points. This will help us work out if the design we developed in the pilot phase will work on a bigger scale. This will take place in early 2017.
- In the third and final phase we will continue to sign up more Access Points to the fund. We have now refined our processes and the way that the fund works and will continue to make improvements based on the feedback we receive.
How to keep updated
We want to get this right, and learn as we go along, so we can improve the design of the fund. We’ll keep you updated through our news page and talk about each phase and our experience as we go progress.
And if you’re interested in sharing your experience of the Reach Fund why not get in touch? We’d love to hear from you about how the process worked for you.