[cma-l] £1 Million Loan Fund Tends To Third Sector’s Needs

[CMA-L]

A new interest-free loan fund has been launched to help third sector
organisations struggling to meet the costs of tendering for public
sector contracts.

Futurebuilders England's £1 million Tender Fund will offer three-year
interest-free loans ranging from £3,000 to £50,000 to enable third
sector groups to compete for public sector contracts on a more equal
basis.

Jonathan Lewis, Chief Executive of Futurebuilders England believes
that third sector organisations are more than capable of winning
public contracts, but often lack the necessary backing to do so. He
said:

"We know there are organisations with the skills to bid for and win
public sector contracts who simply can't afford the costs involved in
preparing competitive bids.

"Our conversations with the sector tell us that providers often need
money to fund tendering related costs such as legal bills, financial
expertise, staffing backfill and advice from procurement specialists."

He added that the loans would be targeted at organisations that
"simply need a small sum of money to get them through the tendering
stage".

To be eligible for a loan, organisations must be:

    * Defined as a third sector body (including charities, social
enterprises, voluntary groups and community organisations.
    * Preparing to bid for a specific public sector contract.
    * Unable to secure a loan from commercial alternatives.
    * Reasonably likely to win the contract and be capable of repaying the loan.
    * Working to benefit service users in England.

Minister for the Third Sector Phil Hope has given his support to the
initiative.  He said:

"The new Futurebuilders tender fund is highly innovative and really at
the cutting edge of projects designed to help the third sector develop
its public service role. I'm sure the sector will make excellent use
of the fund."

There is no closing date for applications, and the Fund will be
available on a first come, first served basis until the £1 million
runs out.

For more information about the programme and for details on how to
apply, visit the Tender Fund pages on the Futurebuilders England
website:

http://www.futurebuilders-england.org.uk/content/Funding/TenderFund.aspx