Social Investment Scotland has teamed up with Asda to launch a new fund aimed at supporting social enterprises to make the step change they need to increase their impact.
Asda Community Capital is a fund that has been set up as a result of the Scottish Government’s single use carrier bag levy, introduced in October 2014. Asda is using the net proceeds of this levy (less VAT) to deliver lasting social impact in communities in Scotland.
This social investment fund is unique, a first in Scotland. Small investment amounts, at competitive rates with flexible terms and no security needed. Further to this, no interest is payable in the first year of the investment, and no repayments need to be made until year 2.
Through the creation of this pioneering fund, Asda and SIS can support social enterprises to become more financially sustainable, providing the platform for them to maximise social impact.
For more information including guidelines and an expression of interest, including downloading an Expression of Interest please visit their website