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Resilient Scotland Ltd Launches Start & Grow

19 June 2012

Resilient Scotland Ltd has launched Start & Grow offering grants and loan packages of up to £60,000. Community organisations already trading or wanting to develop enterprising activity are eligible to apply. They must be from one of the 13 designated local authority areas that have been identified as communities most challenged by economic circumstance and most in need of additional regeneration efforts. A full list of these areas is listed below.

 

This new fund comes from JESSICA (Scotland) Trust, a £15 million independent Trust Fund established by the Scottish Community Foundation with an endowment from the BIG Lottery Fund. It is designed to help stimulate growth in disadvantaged communities most affected by serious economic decline and market failure, helping them to become stronger and more sustainable through their own efforts.

 

The work of the Trust is being managed by the Scottish Community Foundation who report to the Board of Resilient Scotland Ltd, corporate trustees for the Fund. Start & Grow is the first community regeneration investment programme run by Resilient Scotland Ltd. Start & Grow will be open for two years, and the application process will be managed in conjunction with Social Investment Scotland (SIS).

Community organisations interested in applying should firstly complete an eligibility checklist, which will be available on the Resilient Scotland website (www.resilientscotland.org.uk). This will take community organisations through a series of simple questions to see if they meet Start & Grow criteria.

If applicants answer ‘yes’ to all questions they will then be directed to call the Resilient team to get an application form. The team will take forward the assessment process and final decisions will be made by Resilient Scotland’s Awards Panel.

Alastair Davis, Chief Executive of SIS, said “we are delighted to be working with Resilient Scotland on this exciting new initiative, combining our expertise with the reach of the Scottish Community Foundation. We will work closely with organisations to develop a funding package that will support their exciting enterprises.”

Ella Simpson, Resilient Scotland Ltd, Chair added, “The ownership and development of assets by communities is increasingly seen as a key means of improving the economic, environmental and social future for the people of Scotland. Resilient Scotland aims to use the JESSICA fund to nurture resilience by investing in and building the capacity of enterprising community-led organisations in some of Scotland’s poorest areas. The idea is to help develop sustainable enterprises, services and facilities.”

“We welcome applications from existing and new social enterprises that can manage a mixed loan and grant arrangement, helping them to sustain their efforts and achieve lasting impact in Scotland’s communities.”

For further information please contact the Resilient team on Tel: 0131 524 0300

 

ENDS

Notes

 

Eligible areas: Clackmannanshire, Dundee City, East Ayrshire, City of Edinburgh, Fife, Glasgow City, Inverclyde, North Ayrshire, North Lanarkshire, Renfrewshire, South Lanarkshire, West Dunbartonshire, West Lothian

 JESSICA – (Joint European Strategic Support in City Areas) is managed by an independent company limited by guarantee – Resilient Scotland Ltd a (Scottish Charity Number SC42994) incorporated under the Companies Act (Company Number SC41161)

 Social Investment Scotland was established in 2001 to provide a new finance model for Scotland’s charities and social enterprises. Since then it has invested over £43m in almost 180 organisations across Scotland. Loan finance via Social Investment Scotland is available from £10,000 to £1m and is aimed at community enterprises and social businesses that might find access to finance from mainstream providers difficult. Social Investment Scotland also helps to manage funds on behalf of third parties with any profits being re-invested into social business development in Scotland.

 

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