Posted on 10th December 2021Category: News
KEyFund are a social investor based in Sheffield that provide blended finance (a mix of loans and grants) to enterprises that make a positive social impact.
Through the Northern Cultural Regeneration Fund, they are providing access to investments of up to £150,000 where up to a third may be provided as a grant.
- Loans can be used for capital or working capital, but, grant funding can only be used for capital expenditure (equipment, refurbishment, purchase of building/land).
- Working capital loans will be repayable over up to five years. Interest will usually be charged at flat 4.2% (but may be higher for short term loans) with a 2% arrangement fee.
- Capital loans will be repayable over up to ten years. Interest will usually be charged at a flat 3.5% (but may be higher for short term loans) with a 2% arrangement fee.
- Loans are usually unsecured, though security may be requested on some occasions.
Who is it for
Applicants must be an incorporated business that works in the creative and cultural sector and can evidence social impact.
You must be based/or operate substantially in the following Northern Local Enterprise Areas;
- North East
- Cheshire and Warrington
- Greater Manchester
- Leeds City Region
- Liverpool City Region
- Sheffield City Region
- Tees Valley
- York, North Yorkshire and East Riding
How to apply
Contact Adrian Bean, Key Fund’s Lead Investment Manager firstname.lastname@example.org.
The fund closes 31st March 2022 and so to meet this dealing they are advising organisations to put in request for funds before the end of January.
Please circulate this information widely amongst your contacts. They want to support as many community businesses as possible to deliver social impact in disadvantaged areas. See attached for further details.
KeyFund website Key Fund