Blended loan and grant investments are available to creative and culture businesses who deliver social impact to disadvantaged communities, and are operating in the 11 northern Local Enterprise Partnership (LEP) areas.
The £3.1 million Northern Cultural Regeneration Fund is open to applications from incorporated businesses that work in the creative and cultural sector and can evidence social impact as a by-product of their core work. This includes commercially focused businesses as well as community and social enterprises.
The fund provides access to investments of up to £150,000 where up to a third may be provided as a grant.
The following criteria apply:
- Loans can be used for capital or working capital, but grant funding can only be used for capital expenditure.
- 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.
- Security may be requested.
Organisations based in the North East LEP area are advised to contact Social Investment Business to express interest and for further information; organisations based in the other ten LEP areas are advised to contact Key Fund.
How To Apply
Support may be accessed at any time.
Organisations based in the North East LEP area are advised to contact Social Investment Business to express interest and for further information; organisations based in the other ten LEP areas are advised to contact Key Fund.
Useful documents & links
Useful Links
Addresses and contacts
For further information on how to obtain this grant locally, please contact the following:
- Investment Team
Social Investment Business (SIB)
CAN Mezzanine, Borough
7 - 14 Great Dover Street
London
SE1 4YR
Tel: 020 3096 7900
Email: [email protected]
- Enquiries
Key Fund
9-12 Jessops
Riverside
800 Brightside Lane
Sheffield
S9 2RX
Tel: 0330 202 0559
Email: [email protected]