Social Enterprise Loan Fund

A loan fund has been set up to help more social enterprises in the region, thanks to a grant of £500,000 from the Northwest Development Agency (NWDA) and the European Regional Development Fund (ERDF).

The Social Enterprise Loan Fund (TSELF) is a Community Development Finance Institution (CDFI) and a registered charity aiming to support social enterprises engaged in social regeneration projects with the provision of loan finance. TSELF has, to date, invested £8million in social enterprises across the UK, helping clients to generate job opportunities as well as training places.

With the newly awarded funding from the NWDA (£250,000) and ERDF (£250,000), TSELF will provide Small Loans for Social Enterprise awards of up to £50,000.

Roy White, North West Regional Director at TSELF, said: “We have a vibrant social enterprise sector in the North West which we are committed to helping to grow. The grant from the NWDA and the ERDF is a great boost, and we are now looking forward to working with more social enterprises, and charities s across the region that are unable to secure sufficient funding from mainstream sources.”

The Social Enterprise Movement as a whole is now made up of tens of thousands of organisations and accounts for more than one per cent of the UK’s total economy.

For more details about TSELF in the North West visit www.tself.org.uk or call 01829 261019

[Via www.vsnw.org.uk]