The Government’s Coronavirus Community Support Fund is now open. The Fund has two key objectives:
- To increase community support to vulnerable people affected by the COVID-19 crisis, through the work of civil society organisations.
- To reduce temporary closures of essential charities and social enterprises, ensuring services for vulnerable people impacted by COVID-19 have the financial resources to operate, and so reduce the burden on public services.
Details of how to apply can be found on the National Lottery Community Fund website.
The Government has also announced that £150m will be released from dormant bank and building society account funds. Although some is available as grants, the majority will be provided through loans. Here's the detail:
- £10m to the Youth Futures Foundation to develop an Emergency Levelling Up Youth Fund - grants
- £45m to be issued by Big Society Capital to help investments and as emergency loans for those with cashflow issues
- £65m to Fair4AllFinance to provide 'affordable credit' solutions and as an alternative to high cost loans
- £30m to Access - the Foundation for Social Investment to support social enterprises helping people in vulnerable circumstances. The words 'social lenders' and 'flexible finance' are used.
Financial support for voluntary, community and social enterprise (VCSE) organisations to respond to coronavirus (COVID-19). The government has pledged £750 million to ensure VCSE can continue their vital work supporting the country during the coronavirus (COVID-19) outbreak.