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New-look loan fund offers more cash for social enterprises
A nationwide community financier is rebranding to highlight its growing focus on social enterprises.
The Social Enterprise Loan Fund (TSELF) will replace the Local Investment Fund next Tuesday.
The Local Investment Fund has operated for 14 years and generated more than £2m of private sector investment and £7m of loan finance to 150 community enterprises.
TSELF plans to build upon this success by doubling the size of its loan portfolio over the next three years.
There is around £3m in the TSELF kitty available for social enterprises.
TSELF CEO Mike Baker said the refreshed fund would ‘provide more funds to more social enterprises and we hope we can do this in more parts of the country'.
He said the rebrand was needed as research showed the organisation was ‘not sufficiently well recognised in the growing social enterprise sector'.
TSELF has launched a new website, www.tself.org.uk, which is designed to provide clear guidance to help social enterprises looking for finance.