A new £12m Capital Growth Fund offering grants and loans to social enterprises providing health and social care services in England has opened for applications.

The £12m in capital will be made available via the Social Enterprise Investment Fund (SEIF) to invest in organisations that want funding to support the growth of their enterprises.

The Social Investment Business which, with Local Partnerships, manages the SEIF on behalf of the Department of Health, is offering grants worth between £50,000 and £150,000, with further funding available in the form of loans.

The money is available to buy or refurbish buildings, purchase large pieces of equipment and vehicles or to cover professional fees that relate to capital projects like the cost of architects or surveyors.

The Capital Growth Fund will be open to applications from social enterprises that have existed for 12 months or more, which provide health or social care services to people in England, and which are unable to source commercial funding for their growth plans.

The deadline for applications is noon on Friday 16 September and organisations must be able to spend any investment by the end of this financial year. For more information go to: www.thesocialinvestmentbusiness.org/seif or call 0191 2692 276.