While the Big Society Bank is being set up the Big Lottery Fund (BLF) have been asked to distribute up to £5 million raised from dormant bank accounts, to realise some early benefits and provide a springboard for the future.
The aim is to build the diversity and resilience of the social investment market by investing in well managed, ambitious and financially sound social investment intermediaries, so that charities and social enterprises are able to access capital that will enable them to work more effectively in communities and together address the needs of society.
Through The Big Society Investment Fund, the BLF is looking to support around five social investment proposals from social investment intermediary organisations.
To achieve their aim the BLF is looking to support social investment proposals that will enable intermediary organisations to:
• provide better support to organisations that improve the lives of those in need
• create a stronger and more dynamic social investment market that is better equipped to lever funds from other sources
• increase knowledge and learning about effective approaches that achieve a financial return
Only proposals from social investment intermediary organisations based in the UK that will provide social investment products or services for social sector organisations that primarily benefit people in England will be considered.
Proposals won’t be considered that are made from frontline social sector organisations or individual projects.
Applicants must be able to demonstrate a strong track record in providing social investment products or services, or have credible plans to acquire the skills, experience and expertise you will need.
The minimum that can be applied for is £500,000. A maximum hasn’t been set but the BLF are looking to use the £5 million available to support around five proposals.
For further information and to apply, visit: www.biglotteryfund.org.uk/prog_big_society_investment_fund?tab=1®ionc..., or contact 0845 410 2030, or email: email@example.com.
Deadline: Early investments – proposals should be submitted by Monday 4 July 2011, 14:00. There is no deadline for Further investment proposals