Four of the UK’s leading housing organisations have joined forces, to launch a new funding initiative specifically aimed at backing charitable organisations and socially-minded businesses.
The Community Impact Partnership (CIP) has been set up between Clarion Housing Group, L&Q, Orbit and the Peabody Group to offer unsecured loans of between £25,000 and £150,000 to social enterprises and charities achieving positive social and economic impact in communities served by the four partners.
The CIP is the first joint venture of its kind in the UK housing sector and is launching its first £3m social investment fund which will boost communities and support local regeneration. This first £3m fund is supported by the Growth Fund which is managed by Access – the Foundation for Social Investment with funding from the Big Lottery Fund and Big Society Capital.
Penny Hembrow, Chair of the Community Impact Partnership, explained: “All four housing groups involved in this partnership already provide £30m worth of community investment through grants and services to support the communities they serve. But by coming together, through Community Impact Partnership, they can now provide a new form of finance to help those communities even further.
“Our vision is to provide finance to those enterprises with a social mission who plan to take their businesses to the next level. We want to provide the right finance and support at the right time as organisations grow and move to their next stage.”
Further information is available from www.communityimpactpartnership.co.uk.