NEWS: GMCVO announced as Reach Fund Access Point
Greater Manchester Centre for Voluntary Organisation (GMCVO) has become the newest Reach Fund Access Point. Applicants to their GM Social Investment Fund can now apply for investment readiness grants to help them secure a deal.
The Reach Fund, funded by Access – The Foundation for Social Investment and managed by Social Investment Business, allows social lenders - known as Access Points - to refer charities and social enterprises to apply for grants of up to £15,000.
The grants can be used to pay for specific investment readiness support to help the charities and social enterprises raise investment.
Deborah Smart, Head of Programmes (Grants), Social Investment Business said:
“We now have fifteen Access Points able to refer charities and social enterprises to the fund so they can apply for grants. The money can be used to address a range of different investment readiness challenges and we hope it will help applicants to the GM Social Investment Fund secure the investment they need.”
The GM Social Investment fund provides affordable and accessible loan finance to small social enterprises and charities that trade. The loans are designed to help organisations grow and to increase their social impact.
It is aimed at organisations who address social needs, strengthen communities, improve people’s life chances, enhance culture or protect the environment.
Gary Millar, GMCVO’s Investment Manager, said:
“Having launched the GM Social Investment Fund last week we are now delighted to be able to offer these grants to charities and social enterprises within Greater Manchester. We hope this additional support will mean more organisations will be able to access our flexible unsecured finance to help grow their great ideas.”