New £50,000 fund for social enterprises
Firstport and Social Enterprise Scotland has launched a new Catalyst Fund offering £50,000 loans to support social enterprises to start and scale their businesses.
The Catalyst Fund offers loans using a flexible, revenue-based repayment model. This model enables social enterprises flexibility in their early stages of development and fills a gap in the existing social investment framework.
The Catalyst Fund repayments are based upon a percentage of the trading income earned by the enterprise, aiming to make it more flexible. There is no specific length of term – revenue-based repayments continue until an agreed amount is repaid. This form of repayment means the Catalyst Fund aims to be aligned with the growth of the enterprise, meaning they can prioritise growth and impact.
Revenue-based financing is growing in popularity as an alternative to more traditional mechanisms to help companies grow and the Catalyst Fund is the first to use this model to finance social enterprises in Scotland.
The fund has been made possible by a £15 million investment from the Scottish Government . It aims to complement existing Scottish social enterprise support and funding to build on the current ambition of the sector.
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