The Department of Communities and Local Government has confirmed that the Communitybuilders fund can disburse money.
The fund, which is ran by Social Investment Business, had been waiting for confirmation before making any new commitments.
This week, DLG confirmed it could open for business.
Communitybuilders is a £70m investment fund which takes forward a commitment within the Communities in Control: real people, real power White Paper to build more
cohesive, empowered and active communities.
It is currently subject to a government review, along with the Social Enterprise Investment Fund, also ran by Social Investment Business.