Department of Health’s Social Enterprise Investment Fund launches capital grants campaign

Thursday 14 October 2010 

A new capital grants campaign has been launched offering support to existing and start-up social enterprises working in the areas of health or social care. Grants of £50k to £450k are being made available from the Social Enterprise Investment Fund which The Social Investment Business manages on behalf of the Department of Health.

The money can be used to buy or refurbish buildings, purchase other physical assets such as vehicles or cover professional fees that relate to those capital projects like the cost of architects or surveyors. When applying for a grant organisations must demonstrate that they want to grow and improve their long term sustainability.

Care Services Minister Paul Burstow said:

“Social enterprises play a vital role in delivering innovative services and creating capable and confident communities. We are committed to not just helping businesses start up, but supporting them to continue their important work when facing challenging costs and overheads. This fund will help ensure that quality services grow and improve. The growth of social enterprise is a priority for the government. We need more."

The Social Investment Business Chief Executive Jonathan Lewis said:

“We know there is a lot of demand in the social enterprise sector for this kind of capital grant. Since June last year we have provided SEIF investments totaling more than £23million to over 140 fantastic local organisations working in health and social care which have helped them become stronger and more sustainable and ultimately able to help more people.”

The deadline for applications is noon on Monday 1 November and organisations must be able to draw down and spend their grant by the end of this financial year. For more information go to: www.thesocialinvestmentbusiness.org/seifgrants or call 01912 692276.

---------------------------------------------------------------------------------------

1. For further information or interviews, please contact The Social Investment Business press office:

Liz Banks - 0207 842 7726/ 07809 504072  liz.banks@socialinvestmentbusiness.org

Nicola Jones - 0207 842 7755 nicola.jones@socialinvestmentbusiness.org

2. The Social Investment Business, the fastest growing 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. We help organisations prosper by providing innovative financial solutions, business support and long term strategic thinking.

www.thesocialinvestmentbusiness.org @TheSocialInvest

3. The Social Investment Business manages Government funds on behalf of the Office for Civil Society, the Department of Health and the Department for Communities and Local Government, with over 1,000 active investments. These range from £3,600 to help a small organisation bid successfully for a public sector contract, to £6.7million to help a large national charity establish and develop innovative new services for children and young people.