The Prince Update- July 13th 2020

Our writer Richard Prince shares his regular horizon scan of the sector news, flagging up developments, new funding and opportunities in the social sector for portfolio careerists and others to be aware of.

Coronavirus: A round-up of available funding

Charity Times has published a list of some of the funding options available.  The list will be updated regularly. https://www.charitytimes.com/ct/coronavirus-funding-available.php

Nesta’s Arts & Culture Impact Fund Accepting Applications

The Arts & Culture Impact Fund is a new £20 million social impact investment fund for the UK’s arts, culture and heritage social enterprises.  Organisations that are registered and operating in the UK and whose primary activity is in arts, culture and heritage can apply. They also need to have a clear social mission and be able to demonstrate measurable social impact on individuals or communities in the UK.

The fund offers loans between £150,000 and £1 million repayable over a period of up to ten years.  Interest rates: 3% to 8.5%. https://www.artsculturefinance.org/our-funds/arts-culture-impact-fund/#

The Prince’s comment:  I can’t imagine many eligible organisations being able to afford up to 8.5% interest even in the best of times!