The Community Investment Enterprise Fund (CIEF) was first established in 2018 seeded by Better Society Capital (previously known as Big Society Capital) with matched funding from Triodos Bank and Unity Trust Bank. While meeting its objectives, the first phase of CIEF also played a critical role in delivering the government’s Coronavirus Business Interruption Loan Scheme (CBILS), and later the Recovery Loan Scheme (RLS).
2024 welcomed the launch of a new £62 million investment fund to help small businesses across England and Wales access finance to support local jobs and economic activity.
The next phase of CIEF aims to invest in 800 small businesses, supporting around 10,500 jobs with at least half of those small businesses based in the UK’s most deprived areas.
Funded by Lloyds Bank, Better Society Capital and with contributions from the three participating CDFIs (BCRS Business Loans, Business Enterprise Fund and Finance For Enterprise), the Fund provides these CDFIs with the capital they need to meet demand from small businesses.
In 2025, a further £10 million facility funded by Triodos Bank and Better Society Capital has been made available to SWIG Finance to support more micro and small businesses (MSMEs) in the South and West Country.
This funding forms a part of a larger, now £72 million investment initiative, which aims to support MSMEs across England and Wales, bolstering local employment opportunities and economic growth.
