Communitybuilders opens new loan fund for regeneration

Finance | Vibeka Mair | 18 Oct 2011

Communitybuilders, a fund that supports community-based and community-led organisations in England, has opened applications for loans of up to £750,000 for six regeneration projects.

Investments can be used for property renovations and refurbishments, land or property purchases (and some related fees like architects and surveyors), purchase of vehicles, IT equipment and fixtures and fittings. The minimum that can be applied for is £250,000, the maximum £750,000.

The Communitybuilders loan will make up between 20 and 50 per cent of any individual project’s total costs, and funds from other avenues will be expected as part of the package.

The Communitybuilders fund is endowed to the Adventure Capital Fund, which is managed on behalf of the Social Investment Business.

Chief executive of the Adventure Capital Fund, Jonathan Jenkins said:

"To start this new era of Communitybuilders we are looking to invest in up to six exemplary projects.

"We want to hear from established organisations that are able to demonstrate impact in their communities and credible plans for financially sustainable initiatives. Our mission is to support community organisations that are looking to both expand and become more financially independent but who can’t access commercial loans."

An SIB spokeswoman added that ACF was looking to be a co-funder and was willing to act as both a 'first brick' or a 'last brick' in a funding package.

For more information, including an eligibility checker, the application form and guidance notes visit.

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