The Resilience and Recovery Loan Fund (RRLF) will close to new applications on 30th September.
You can apply for the fund here.
RRLF is a new fund for social enterprises and charities that are improving people’s lives across the UK who are experiencing disruption to their normal business model as a result of COVID-19.
RRLF offers loans of £100k-£1.5m, a loan term of 1 to 5 years, is interest-free and fee-free for the first 12 months (in line with CBILS), and has an interest rate of 6.5% to 7% per annum for years 2 onwards (after principal payments start).
To date, RRLF has approved funding to 30 charities and social enterprises, with a total value of almost £10m.
The fund is being run by Social Investment Business (SIB) with an initial £25m investment and support from Big Society Capital.
Social investors, including Big Issue Invest, CAF Venturesome, Charity Bank, Resonance, Social Investment Scotland, Social and Sustainable Capital and Wales Council for Voluntary Action support on the delivery of the fund.
Visit Social Investment Business to find out more and apply.
