NAME OF ORGANISATION: Newquay Community Orchard
YEAR FOUNDED: 2014
ABOUT: Newquay Orchard, a community hub that is used to work with disadvantaged groups and young people seeking work experience.
INVESTMENT PURPOSE: To act as working capital while the organisation developed its training and landscaping services and to build Kowel Gwenen (beehive), its newest community building.
INVESTMENT AMOUNT: £150,000
DATE OF INVESTMENT: September 2018 and August 2019
SOURCE OF INVESTMENT: Health & Wellbeing Challenge Fund (South West)
IMPACT: Education & Learning; Energy & the Environment
ABOUT: Urban Biodiversity manages award-winning ‘re-imagined urban greenspace’, Newquay Orchard, a community hub that is used to work with disadvantaged groups and young people seeking work experience. The community orchard is a space that provides mental health therapy and education to groups and individuals in the local community, while also facilitating rehabilitation, job creation and economic growth. Newquay Orchard offers volunteering and training roles including Growing Futures, a 2 year long learning programme for 16–24-year-olds. Growing Futures teaches valuable skills that help individuals to progress onto further employment, these skills include tool use and maintenance, woodwork, teamwork and CV building.
PURPOSE OF INVESTMENT: The purpose of the first investment from the Health and Wellbeing Challenge Fund was to act as working capital while the organisation developed its training and landscaping services. The investment was also used to develop its on-site woodworking space. The second investment helped Newquay Orchard to build Kowel Gwenen (beehive), its newest community building. Kowel Gwenen, made mostly from sustainable and reclaimed materials, is home to Canteen at the Orchard, The Food Hub and the Co-workspace. The space will be used to host events, meetings and performances, encouraging collaboration, creativity and a strong sense of community.
Luke Berkeley, Managing Director of Newquay Community Orchard: “The Orchard has always been about the creation of a collective that can deliver social, environmental and economic change to one of the poorest communities in the UK. The investment will enable us to fast track a few projects to allow us to achieve greater impact to those in need.”
Leila Sharland, Fund Manager at Resonance: “This was one of the more straightforward loans for the Fund and we were able to meet Newquay Orchard’s request for a fairly fast turn-around. They applied in July and were approved with funds deployed in September. They were on the ball with quick responses to our questions and had already built a strong financial model. […] The enterprise works hard to build connections with a number of organizations and so they are able to make sure their impact goes across the board in Cornwall. It is great to see a really proactive response to significant change in the local area.”
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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