[cma-l] Local Impact Funds to provide a new kind of finance for charities and social enterprises
Murray Dawson
murray at shmu.org.uk
Mon Oct 7 13:27:36 BST 2013
I realise that, but the original story was linked to the Liberal
Democrats conference and the structural support it mentioned Local
Impact Funds linked to Local Enterprise Partnerships (LEPs), which don't
exist in Scotland.
On 07/10/2013 13:22, CMA-L wrote:
>
> All national references on the site are to the UK.*
> *
>
> *The Social Investment Forum* is a network for providers of social
> investment and social finance and is chaired by Social Enterprise UK.
> The Forum offers its members an opportunity to discuss and debate key
> policy recommendations and work with government, politicians and other
> key opinion formers on the development of the market. The Forum is a
> member of the Social Economy Alliance.
> sibgroup.org.uk/socinvforum <http://www.sibgroup.org.uk/socinvforum/>
>
> *The Social Investment Business Group* (SIB Group), the largest social
> investor in the UK, exists to help social enterprises, charities and
> community organisations do more of what they do best – supporting
> people and communities most in need.
>
> Community Media Association
> --
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> On 7 October 2013 12:56, Murray Dawson <murray at shmu.org.uk
> <mailto:murray at shmu.org.uk>> wrote:
>
> 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/
>>
>> Community Media Association
>> --
>> http://www.commedia.org.uk/
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>>
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> --
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>
> Murray Dawson
> Chief Executive
> Station House Media Unit
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> Aberdeen AB24 2WB
> Tel - 01224 515013
>
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please reply to
murray at shmu.org.uk
Murray Dawson
Chief Executive
Station House Media Unit
Station Road, Woodside,
Aberdeen AB24 2WB
Tel - 01224 515013
www.shmu.org.uk
listen to our community radio station live on 99.8FM and at www.shmufm.net
SHMU is a charity registered in Scotland - SC034211 and a registered Limited Company - SC332413
This correspondence is confidential and is solely for the intended recipients. If you are not the intended recipient, you must not disclose, copy, distribute or retain this message or any part thereof.
If you are not the intended recipient, please delete this correspondence from your system and notify the sender immediately. No warranty is given that this correspondence is free from any virus.
Any views or opinions expressed in this correspondence do not necessarily reflect the views and opinions of Station House Media Unit.
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