15 Dec 2014
Capital continues to flow with £10m investment for social ventures
The Royal Bank of Scotland (RBS) has invested £10m into RBS Social & Community Capital (S&CC), the bank’s social finance charity – formerly known as the RBS Micro Finance Fund, to help organisations that struggle to access mainstream finance in the UK.
Eligible social enterprises will be able to access loan funding from £30,000 up to £1m. Organisations must be UK based and be able to show proof of their financial stability. They must demonstrate that they are delivering a positive impact to society and/or environment, and that they have had a loan declined from a mainstream bank.
In just three years RBS has made £5m of approved loans through its social finance charity. This new investment will allow this to continue on a flexible basis, with the structure and rate agreed on an individual basis.
To find out if your social enterprise is eligible and how to apply for a loan from the S&CC visit their website. There is no deadline, applications are accepted on a rolling basis.
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