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

[Phil Korbel]

looks good

except

that if you lose the bid

you still have to pay off the loan.

There's a difference between being 'reasonably likely to win the bid 
and actually getting it.

Which is not to entirely pour cold water on the idea but this does 
seem like a flaw...

Better surely to build our sector's capacity to pitch...

bests

Phil

Date sent:      	Wed, 9 Jul 2008 10:40:03 +0100
From:           	CMA-L <cma-l at commedia.org.uk>
To:             	cma-l at commedia.org.uk
Subject:        	[cma-l] £1 Million Loan Fund Tends To Third Sector
	’s Needs

> 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.as
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