We are delighted that to date the Social Enterprise Support Fund has received nearly 900 applications, and by 8th September had agreed to support over 400 social enterprises across the length and breadth of England, with over £12.2 million in grant funding.
From this fund, Resonance has committed grant funding to 80 social enterprises totaling over £2.2 million in grants awarded.
Research shows that this crisis is disproportionately hurting communities who already experience social and economic inequalities. So, for the final round, eligibility for the fund has been widened to organisations with an annual income of between £20,000 and £1.8million (previously £25,000 and £1.5million).
The fund - established in partnership by The National Lottery Community Fund and five social enterprise support agencies* including Resonance - provides essential financial support to help social enterprises during COVID-19. It will help social enterprises to meet additional demands, change the way they work, make their spaces COVID-secure, and manage liquidity during the next six months.
It’s aimed at social enterprises supporting people at high health risk from COVID-19, and those supporting people facing increased social and economic challenges as a result of COVID-19. Vulnerable people need this support more than ever, but social ventures are struggling to make enough income to meet this need. So, the fund has made a commitment to ensure that the grants reach businesses that are led by people most impacted by Coronavirus.
Three of the social enterprises who have been awarded grants from the Social Enterprise Support Fund via Resonance are Hollywell Housing Trust, Vision 21 and Symbiont CIC:
Hollywell Housing Trust is based in Devon and supports people with disability and mental health issues to secure safe housing, receiving housing support and thrive in their communities. They help them to live independently, remain healthy and happy and able to fulfil their goals.
Grant received: £45,000
Kate Sherjan, Chief Executive: “Being able to access this grant means that we are able to finally start looking to the future after the last three months, having had to press pause on our provision of new homes for some of the most vulnerable in society. It will also enable us to provide resources to support our tenants with mental health issues.”
Vision 21 is an independent environmental and social charity on a mission to make Gloucestershire more sustainable. They run a number of community-based sustainability projects including their monthy Regeneration and Repair Café, and also provide volunteering and work experience opportunities for local people with mental health issues or physical disabilities through their Reclaim Cheltenham project.
Grant received: £15,000
Dave Entwistle, CEO: “The grant was a lifeline for the charity, the volunteers and the communities Reclaim Cheltenham supports.”
Symbiont CIC offers support services to people including older, isolated, autistic, learning disabilities, vulnerable & ex-offenders with social engagement, mental and physical health, wellbeing and progression into housing, employment, education and independence.
Grant received: £25,000
Alan Johnson, CEO: “The SESF grant has made a world of difference to our organisation and the young people we support, at a time of real uncertainty. The grant meant that we were able to work with local partners to deliver appropriately social-distanced activities for young people with a range of physical, emotional and learning difficulties.”
Ollie Pollard Senior Investment Manager said: “Since opening Round 1, back in July we’ve seen an amazing breadth and depth of social enterprise applicants doing all sorts of innovative things in this challenging context. So far we have committed grant funding to 80 enterprises through the Resonance process, which has amounted to £2,251,752.00 and as a consortium we have supported well over 400 social enterprises with £12.2million in grants.”
The Social Enterprise Support Fund has been a lifeline for many social enterprises during this challenging time, enabling them to be at the forefront of solutions to this crisis, helping communities build back better.
*With our social enterprise support agency partners Big Issue Invest, The Key Fund, the School for Social Entrepreneurs (SSE) and UnLtd, with support from CAF Venturesome, the Young Foundation and Ashoka
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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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