Key Fund itself is a social enterprise and understands the unique difficulties faced by similar organisations when looking to develop and grow. By providing tailored investments, we are continuing in our mission to break down the barriers to accessing finance, enabling organisations to increase their community, economic and environmental impact.
To date over£28m awarded creating 159 new business start ups; 915 jobs created and 716 jobs safeguarded £1m Fund Up for Grabs for North West Social Enterprise
The Key Fund, Britain’s largest regional investor in the social economy market, has earmarked a £1m fund for social enterprises in the North West.
Tailored loans of up to £150,000 are open to new and existing social enterprise activities across the region.
The North West Fund can be used to support revenue or capital costs, including bridging facilities, capital purchases, cash flow, refurbishment costs, running costs, set-up costs and wages.
The Key Fund, which has been established in Yorkshire and the Humber for over 10 years recently expanded into the North West.
Roy White, Lead Investment Officer for the North West, said: “We’re keen to invest the £1m before the end of 2013. Social enterprise is a growing sector and increasingly crucial, developing and regenerating areas, benefiting the communities they serve.”
Key Fund has given loans, grants and equity investments to start-up social entrepreneurs totalling over £28 million in the last ten years in Yorkshire. It is in itself a social enterprise that acts as a ‘moral lender’ helping those turned down finance from mainstream lenders.
Mr White added: “We invest in all sorts of things but we are willing to be adventurous. If you’re confident in an enterprise that is financially sustainable and benefits the community it serves, we want to hear from you.”
Roy White Lead Investment Officer North West
The Key Fund – Investing in Social Enterprise
About the Key Fund
South Yorkshire was facing a grim future with the downturn in the steel and coal industries and the scourge of long-term unemployment was a black cloud over its
future. In 1999 the Key Fund was born by a group of entrepreneurs from Locality (formerly the DTA, South Yorkshire Community Foundation) and the Sheffield Community Enterprise Development Unit.
They pooled their experience and skills from working in the Third Sector with a philanthropic impulse to meet the glaring needs of budding social enterprises and community organisations.
In 2002, the Key Fund escaped a culture dependant on grants and made its first loan.
Their objective remains the same as it did when it began: to remove the barriers within society and the financial markets that help propagate poverty and disadvantage.
Today, the Key Fund is a market leader in innovation recognising the nature and environment within which social businesses operate, namely; disadvantage and market failure.
For much more about Key Fund www.thekeyfund.co.uk