Scaling Up Community Investment in the UK
Report calls on private, public and philanthropic investors to engage with the CDFI sector to enable sustainable capital and create significant social and economic impact in underserved communities.
Small businesses are an essential part of a local ecosystem, both as employers and generators of local wealth, and particularly in disadvantaged communities. However, many sustainable small organisations in these communities cannot access mainstream finance to sustain or grow their activities.
Over the last year, Social Investment Scotland (SIS) has been part of a Community Investment Steering Group made up of a range of stakeholders brought together by Big Society Capital and Citi. The group has drafted its report, Scaling Up Community Investment in the UK, setting out its vision of:
“Significant social and economic impact in underserved communities, created through sustainable capital invested at scale by a resilient enterprise lending CDFI sector”.
Community Development Financial Institutions (CDFIs), such as SIS, have a social mission to increase access to finance for underserved, yet sustainable, small businesses to help them survive and thrive in their communities. Given they are one solution to the lack of access to mainstream finance for these organisations, there’s an opportunity to support CDFIs to scale significantly and amplify the social and economic impact that they can create in disadvantaged communities.
Learn more and discover the report’s recommendations on Big Society’s Capital’s website here.