The Co-op Foundation are offering interest-free loans up to £50,000 towards viable business ideas that will improve community spaces and benefit the whole community, particularly those facing greater challenges. Loans are repayable and can be interest free for up to 5 years - no repayments for first year. Additionally If you are based in a more depived area, or your work mainy benefits disadvantaged members of the community they might also be able to offer some grant funding alongside a loan.
Is this suitable for your organisation?
- Your organisation must be run for the benefit of the community and not for private profit
- Your organisation must own or manage a building or outdoor space that is used for a wide range of community activities
- A wide range of local people must be involved in your work
- Trading activities must be realistic and increase long term income
- This is loan funding so it must be repaid - is this practical for your organisation?