Thrive: Scotland's Social Economy Fund
£100,000 - £500,000 loans available to social sector organisations working to reduce and prevent the causes and effects of poverty and trauma across Scotland. Applications open now - please read on for full fund and application details.
What is the Thrive fund?
Social Investment Scotland (SIS) has launched Thrive - Soctland's Social Economy Fund, a new £5 million fund to support organisations working to reduce and prevent the causes and effects of poverty and trauma across Scotland.
With investment from SIS, The Robertson Trust, and the Joseph Rowntree Foundation, the fund will provide loans of between £100,000 and £500,000 to social sector organisations delivering projects and services that improve outcomes for low-income people and households across the country.
Loans will be made to organisations who can show that they are reducing or prevent the causes of poverty or trauma by improving income and financial inclusion; employment, training and education; housing and local facilities; citizenship and communities; and mental health and wellbeing.
Thrive is now open for applications.
If, after reading and considering the details on this page, you are interested in applying for Thrive funding, you can apply through our contact form, or by calling us to register your interest at 0131 558 7706.
Poverty and Trauma in Scotland
The launch of this fund comes as new research from the Joseph Rowntree Foundation shows around 940,000 people in Scotland are living in poverty.
Meanwhile, many of the charities and other not for profit organisations best placed to respond are unable to find the finance they need to increase the impact of their work.
This fund has been designed to help overcome these challenges by providing long-term finance which enables organisations to invest in projects that will directly support more people at risk of, or experiencing, poverty in Scotland.
Loan Terms
Loans will either be secured or supported by the Government Guarantee Scheme, with terms of up to 10 or 12 years depending on the loan structure. Capital holidays of up to 12 months can also be considered. * Please note that Growth Guarantee Scheme-backed facilities are provided at the discretion of Social Investment Scotland, and we are required to undertake our standard credit and fraud checks for all applicants.
Between £100,000 and £500,000
Government Guarantee Scheme loans - up to 10 years
Secured loans - up to 12 years
Government Guarantee Scheme loans - 8.5%
Secured loans - 6%
1%
Eligibility Criteria
The borrower must be based in Scotland.
Thrive is an IMPACT focused fund.
The borrower must be a social sector organisation who can clearly show that they are reducing or preventing the causes of poverty or trauma for people and households, particularly low-income people and/or households, through at least one of the following outcome areas:
Improving income and financial inclusion
Employment, training and education
Housing and local facilities
Citizenship and communities
Mental health and wellbeing.
This can be the sole focus of the organisation, or a project undergone or planned by the organisation.
For example:
Community football club in SIMD area replacing a synthetic pitch: not eligible
Community football club redeveloping a building to run alternative school, employability and financial inclusion projects: eligible
The fund is open to Limited Companies, Sole Traders, Partnerships, Limited Liability Partnerships.
In collaboration with social impact partners:
About Joseph Rowntree Foundation
The Joseph Rowntree Foundation (JRF) is an independent social change organisation working to support and speed up the transition to a more equitable and just future, free from poverty, where people and planet can flourish.
JRF's work includes policy development and insight gathering, advocacy and campaigns, funding pioneers and visionaries, field building, and supporting those building grassroots movements. JRF has been making social investments to support initiatives aligned with its mission since 2015.
About The Robertson Trust
The Robertson Trust is an independent grant-making trust in Scotland.
Established in 1961, the Trust’s mission is to prevent and reduce poverty and trauma in Scotland by funding, supporting, and influencing solutions to drive social change.
Thrive is now open for applications.
If, after reading and considering the details on this page, you are interested in applying for Thrive funding, you can apply through our contact form, or by calling us to register your interest at 0131 558 7706.
Want to find out more?
If you are interested in Thrive: Scotland's Social Economy Fund and you would like to find out more, sign up to a 30-minute online Fund Fact session delivered by Lindsay Wake, SIS Head of Impact and Communications and Chris Jamieson, SIS Head of Investment Partnerships.
These will be taking place on:
Wednesday 18 November 26, 2 - 2:30PM
Thursday 26 November 26, 2 - 2:30PM
Wednesday 2 December 26, 10 - 10:30AM
Tuesday 12 January 27, 11:30AM - 12PM
Quotes
Why work with SIS?
We are a Community Development Finance Institution (CDFI) with more than 25 years’ experience delivering responsible, impact-led lending.
Since 2001, we have invested nearly £170 million in around 600 organisations across the UK.
We understand that some businesses with strong potential can fall outside traditional lending criteria, and we work closely with businesses to provide fair, flexible and relationship-led finance.