Investing in Enterprise Fund

Summary

The Investing in Enterprise Fund offers blended grant and loan investment to social enterprises, community organisations and charities working within the 18 eligible areas. The investment can be used for:

• Working capital
• Acquisition of assets
• Business growth
• Capital expenditure

The fund is designed to allow you to meet the needs of your business, achieve your vision and secure your future.

Investments made by this fund must demonstrate that they meet the social investment charitable objectives, which are:

• To prevent and/or relieve poverty among those living in Scotland
• To advance community development, and urban and rural regeneration, in Scotland
• To advance education in Scotland

This fund is made available through the JESSICA (Scotland) Trust, of which Foundation Scotland is the corporate trustee.

Fund award sizes

Minimum: £10,000

Maximum: £250,000

Notes on award amounts:

The fund can invest between £10,000 and £250,000 per business; up to 25% of this can be in the form of a grant and the remainder a loan.

Loans are repayable over a period of up to 10 years. Appropriate security must be available for the loan.

Who can apply

Incorporated organisations in one of the 18 local authority areas can apply if they have:

• charitable, social or environmental objectives stated in your organisation’s governing documents
• a minimum of three unrelated directors
• an Asset Lock or Charitable Dissolution Clause
• assets of sufficient value to provide security for the loan

You must have approached a bank or commercial lender and been turned down for an investment to apply.

When to apply

Upcoming deadlines are:

• 24 February 2023 (for decision May 2023)
• 7 April 2023 (for decision July 2023)

Next deadline: 24 Feb 2023

How to apply

Contact Foundation Scotland to discuss your plans and request an application form.

Exclusions

• Businesses that are insolvent or at the immediate risk of insolvency
• Proposals that are merely to replace existing debt finance
• Subsidiaries of public bodies
• Proposals capable of being fully funded on a commercial basis
• Organisations whose beneficiaries are outwith the 13 eligible local authority areas
• Proposals that promote religious practices or beliefs Schedule 3 Community Interest Companies.