Investing in Enterprise Fund
Foundation Scotland
Area:
- City of Edinburgh
- Clackmannanshire
- Dundee City
- East Ayrshire
- Fife
- Glasgow City
- Inverclyde
- North Ayrshire
- North Lanarkshire
- Renfrewshire
- South Lanarkshire
- West Dunbartonshire
- West Lothian
Key dates:
Applications open : Apply at any time
About this fund:
The Investing in Enterprise Fund offers blended grant and loan investment to social enterprises, community organisations and charities working within our 13 eligible areas (see list above). The fund can invest between £10,000 and £250,000 per organisation; up to 50% (£125,000) of this can be in the form of a grant and the remainder a repayable loan.
The investment can be used for:
- Working capital
- Acquisition of assets -Capital expenditure
Most importantly, the fund is designed to allow you to meet the needs of your business, achieve your vision and secure your future.
Loans are repayable over a 10 year period. Appropriate security must be available for the loan. We will discuss our requirements for security with you during the assessment process.
This fund is made available through the JESSICA (Scotland) Trust, of which Foundation Scotland is the corporate trustee. The JESSICA (Scotland) Trust was established in 2012 with a £15 million endowment from The National Lottery Community Fund (formerly known as the Big Lottery Fund). This fund was previously managed by Resilient Scotland Ltd through their Start & Grow and Making Enterprise Happen programmes.
Purpose of this fund:
Investments made by this fund must demonstrate that they meet our social investment charitable objectives, which are:
- To prevent and/or relieve poverty among those living in Scotland
- To advance community development, and urban and rural regeneration, in Scotland
- To advance education in Scotland
Foundation Scotland carries out due diligence on all applications we receive to check eligibility for the funds we manage, assess risk and prevent fraud. Please carefully read through the criteria before submitting an application for investment.
Are you an incorporated organisation?
- To answer ‘yes’ to this question you should be one of the following:
- Incorporated co-operative (including Community Benefit Society)
- Company limited by shares
- Company limited by guarantee
- Community Interest Company, Schedule 1 or Schedule 2 (Schedule 3 Community Interest Companies are not currently eligible to apply for investment).
- Charitable Company
- Industrial & Provident Society
- Scottish Charitable Incorporated Organisation
- A Trust
Is your organisation based in one of the 13 local authority areas in which Investment in Enterprise offers investment? Or Will the beneficiaries of your work be based in one of these 13 areas?
- Clackmannanshire
- Dundee City
- East Ayrshire
- City of Edinburgh
- Fife
- Glasgow City
- Inverclyde
- North Ayrshire
- North Lanarkshire
- Renfrewshire
- South Lanarkshire
- West Dunbartonshire
- West Lothian
What can’t be funded?
This fund cannot support:
- Businesses that are insolvent or at the immediate risk of insolvency
- Proposals that are merely to replace existing debt finance
- Subsidiaries of public bodies
- Proposals capable of being fully funded on a commercial basis
- Organisations whose beneficiaries are outwith the 13 eligible local authority areas
- Proposals that promote religious practices or beliefs
- Schedule 3 Community Interest Companies.