New £30 million loan fund for social enterprises
Social and Sustainable Capital has launched a new £30m loan fund. Partnering with Santander, Big Society Capital and the Social Investment Business Foundation, it offers a range of loan finance options to social enterprises and charities. Santander’s contribution is thought to be the largest pot made available to social enterprises and charities by a mainstream bank.
More info: www.socialandsustainable.com
Young Co-operators Prize launched
Altgen, which supports young people starting co-ops, together with Co-operatives UK and ten universities across the country, has launched the Young Co-operators Prize to recognise new student and graduate co-operatives. The prize will support five groups of young people to set up their own co-operative enterprise by providing mentoring, business support and a £2,000 prize.
More info: www.y-c-p.co.uk
New report: community shares a growing sector
A new report from innovation charity Nesta and the University of Cambridge predicts that alternative finance – which includes crowdfunding, peer-to-peer lending and community shares in the UK – will have grown by 161% to £1.74bn by the end 2014. Looking at investor motivation, the research found that nearly all investors in equity-based crowdfunding were primarily interested in receiving a financial return, while only a quarter of people purchasing community shares cited this motivation, focusing instead on ‘making a difference’.
More info: a.s.coop/1xRz3hp
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