[cma-l] Local Impact Funds to provide a new kind of finance for charities and social enterprises

[Murray Dawson]

It's not clear from the link, but I presume that this is not a UK wide 
initiative?

It would be useful if it was made clear in the subject headers of emails 
like this who can benefit.

Thanks

Murray

On 07/10/2013 12:26, CMA-L wrote:
> A new funding model that promises to provide simple finance for local 
> charities and social enterprises was launched at a fringe event hosted 
> by the Social Investment Forum <http://www.sibgroup.org.uk/> at the 
> Liberal Democrat party conference recently.
>
> The Local Impact Fund model is outlined in a prospectus published by 
> the Social Investment Business Group called "Growing a local social 
> economy" <http://www.sibgroup.org.uk/lif/>. The publication highlights 
> the economic and employment benefits of supporting the local sector, 
> in addition to the social impact. It also shows how a locally led 
> solution to social investment will target resources where they are 
> needed most.
>
> Local Impact Funds will be led by local sector bodies and will bring 
> together local and national partners and investors to provide tailored 
> support for charities and social enterprises throughout their 
> investment journey; from investment readiness support and mentoring to 
> help them to develop their business plans, to loans and other 
> investment products to help them scale up, develop assets and grow.
>
> The funds are designed in a way to work closely with Local Enterprise 
> Partnerships (LEPs) so that EU funds, which the LEPs will be in charge 
> of distributing from 2014, could potentially form part of the 
> investment mix. Local Impact Funds are being tested as a future 
> recognised Financial Engineering Instrument (FEI) by the government 
> and have been included in official guidance to LEPs as they develop 
> their strategies for using EU monies from next year.
>
> Other investors can include national investors like the SIB Group and 
> Big Society Capital, along with local investors like CDFIs, local 
> authorities, community foundations and individuals. This mix of 
> investors will allow the funds to meet the needs of the local sector 
> by providing early stage support, as well as smaller loans with a high 
> appetite for risk.
>
> A broad partnership of local and national organisations have joined 
> together to support the initiative.
>
> Source: 
> http://www.sibgroup.org.uk/news/news/2013/local-impact-funds-to-provide-a-new-kind-of-finance-for-charities-and-social-enterprises/
>
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-- 
please reply to
murray at shmu.org.uk

Murray Dawson
Chief Executive
Station House Media Unit
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