Social enterprises locally are set to benefit from cash that has become available since Croydon became the first London borough to win social enterprise place status.
The accolade was bestowed in recognition of the number of businesses in the borough that are run for the benefit of the community. And now those enterprises are being invited to apply for funding that will enable their business to grow.
The council has teamed up with SE-Assist, which offers a pioneering approach to social investment, bringing together large businesses and social enterprises.
SE-Assist is especially keen to help social enterprises struggling to access capital and support from elsewhere.
Successful social enterprises will receive a support package that includes:
• an interest-free loan of between £10,000 and £30,000;
• a dedicated business mentor; and
• access to a bank of experts.
Social enterprises keen to take advantage of this offer must meet specific criteria to be eligible – visit www.se-assist.co.uk for details.
Councillor Toni Letts, cabinet member for economy and jobs
“Croydon is home to more than 120 registered social enterprise businesses with many more operating in the wider voluntary sector.
“These funding packages are designed to help our borough’s social enterprises grow, which is why we’ve teamed up with SE-Assist.
“As a borough with social enterprise status, we’re passionate about supporting businesses that benefit our communities.”