Futurebuilders launches £1m loan fund for tendering costs

Finance | 3 Jul 2008

Futurebuilders has created a £1m interest-free loan fund to help charities to meet the cost of tendering for service delivery contracts.

Loans from the Tender Fund will cover the costs of expenses such as legal bills, financial advice, extra staff costs and procurement expertise.

The fund will provide three-year loads of between £3,000 and £50,000. There is no closing date for applications and the money will be available on a first-come, first-served basis until the £1m runs out.

Futurebuilders England chief executive Jonathan Lewis (pictured) said: “We know there are organisations with the skills to bid for and win public sector contracts who simply can’t afford the costs involved in preparing competitive bids.

“We want to be as flexible as possible with the finance we offer and respond to the sector’s needs, so we set up this fund specifically to help address this problem.”

Third sector minister Phil Hope described the new fund as “highly innnovative and really at the cutting edge of projects designed to help the third sector develop its public service role”.

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