Deadline: 05-Feb-2025
The Somerset Social Investment Programme (SSIP) offers blended finance. This means you get funding which is a combined loan and grant. You’ll need to pay the loan part of the funding back to us, but not the grant.
The funding is usually offered as two-part loan and one-part grant, but the final split is decided on a case-by-case basis.
Funding Information
- Grant size: Funding up to £40,000, blending an unsecured loan with grant funding. The loan will have a fixed interest rate.
Eligibility Criteria
- You’ll need to meet the minimum standards to apply for any of the funding programmes. For the Somerset Social Investment Programme, you’ll also need to meet the additional requirements:
- The organisation must be incorporated. They’re unable to accept applications from unincorporated community groups
- You’ll need to have filed at least one set of annual accounts and have an income at least double the amount you’re applying for
- You’ll need to be able to show that you’ve tested the business case, provide financial information to show that it can become a viable trading model and that you’ll be able to repay the loan
- The minimum standards cover things like:
- the types of groups they can give a grant to and how they expect them to be run
- how they expect those groups to manage their finances
- how those groups keep people safe.
For more information, visit Somerset Community Foundation.