What you need to know to get investment from this fund
Resonance’s second Social Investment Tax Relief (SITR) Fund launched on 2 February 2018 in the West Midlands, bringing £5m investment to the region’s social enterprise sector.
The Fund offers unsecured loans over a six year term, “interest only” for the first three years.
Resonance selected SITR as the framework for the Fund because the legislation is specifically designed to support the social enterprise sector to access social investment more affordably, whilst attracting investment from individual social investors.
To hear from social enterprises already looking for investment in the West Midlands, take a look at the video below.
Investment Proposition Key Facts:
Geography: West Midlands
Impact Focus: Dismantling Poverty
What We Fund: Social enterprises that need investment to grow
Amount: £100K - £500K
Cost: Around 6% per annum (+/- depending on business risk)
Term: 6 year loans interest only for first 3 years (equity investment also available)