Blended Finance – Grant + Loan
Flexible Finance Fund
Create Equity has partnered with Social Investment Business to help deliver a £4m fund for BAME-led social enterprises based in England.
registered charity or social enterprise
51% or more of the organisation’s board & senior management team must be from Black and Minoritised ethnic backgrounds
£200k in last financial year
Minimum £50k loan with a grant ranging from 50% to 100% of the total loan amount.
Your organisation must not have received repayable finance greater than £25k, excluding Bounce Back Loans
Sitting alongside the Recovery Loan Fund managed by Social Investment Business, this fund is for Black and Minoritised Ethnicity-led organisations eligible to receive grant funding alongside a loan.
Create Equity is available to support Black and Racially Minoritised applicants pre and post application. We bring our networks, expertise and understanding to the programme, and we can support in the application process. This includes guidance in writing a strong application, as well as working with organisations to gather information needed before the Investment Committee. We are also available to provide ongoing support for additional advice, or to answer questions during and post support.
Submit your expression of interest below
Please take note of the eligibility criteria above. This funding opportunity is open to BAME-led organisations, operating in England, which have a charitable or social enterprise status and a minimum annual turnover of £200k.
Frequently Asked Questions
What does the social enterprise registration mean/include?
What groups do Black and Racially Minoritised ethnic include?
What types of projects/costs does this fund offer to finance?
Can you explain further how the combined loan/grant (blended finance) works and what the process is?
Is the funding received as a lump sum or staggered?
The grant is dispersed as a lump sum alongside the drawdown of the Loan. It is not usually staggered in any way.
Can I have a grant without the loan?
What does the review process entail?
Once due diligence is completed and the team are satisfied all criteria is met, your application will be passed onto the Investment Committee. They are an independent group that check all of our applications for funding. This is the final step before receiving funding.
I want to use the funding to refinance existing debt, is this allowed?
What does incorporated mean?
Is anything ineligible?
The following sectors are ineligible:
- Deposit taking Banks and EEA Banks;
- Building Societies;
- Insurers (other than insurance brokers);
- Public sector organisations (as classified by the Office of National Statistics);
- State funded primary or secondary schools.
Will the fund lend alongside other lenders?
What should I expect when completing the application form?
You will be asked to select a partner to assess your application and, if applicable, present it to the funds investment committee for a decision (see below). You will also be asked to provide your last 2 sets of approved accounts (showing figures for 3 years, if available), latest set of management accounts, and 12-month cashflow forecast for the current financial year.
The application should take approximately 15 minutes to complete if you have all information to hand. You can save the application and resume later, if needed. Once submitted you will receive an auto acknowledgement email with a PDF copy of your application attached. We will be in touch a few days after you have submitted.