One month to go till £215m fund opens to all third sector organisations
7th March 2008
Extra £65m released for not-for-profit organisations in April 08
Futurebuilders England, the government-backed investment fund for the third sector, is gearing up to open its doors next month [April] to organisations working across all areas of public service delivery.
Offering loans-based investment packages, Futurebuilders provides flexible finance to organisations that are delivering public services or want to start contracting with public bodies, such as local authorities, primary care trusts or learning and skills councils.
Established in 2004, the Futurebuilders Fund was originally only open to groups working in crime, community cohesion, children and young people, education and learning, and health and social care. From April 2008 it will extend its support to organisations working across all areas of public service delivery, including sport, recreation and leisure, environmental projects, waste and recycling, legal aid, and the arts.
Megan Meredith, External Affairs Director at Futurebuilders England said:
“With only one month to go until the Futurebuilders Fund is extended to cover all public services we’re urging not-for-profit organisations to get ready to apply.
With an extra £65m on offer from 1 April – bringing the fund total to £215m – we’re particularly looking for organisations that want to improve or expand their services and will ultimately earn income for these services through public sector contracts.
We’re excited by the opportunity to open the fund into new markets and look forward to the interesting proposals this expansion will bring.”
Futurebuilders has already invested in over 250 third sector organisations including charities, social enterprises, community interest companies, voluntary groups and community organisations. Each investment package is tailored to meet the individual needs of the applicant and its proposal. Loans are offered at a standard rate of 6% and are often combined with grants and professional support to help build capacity for generating income and winning contracts.
To register your interest before the fund opens, or to find out more about how loan finance can help your organisation achieve sustainability, visit
www.futurebuilders-england.org.uk or call 0191 261 5200.
