The government's £70m Communitybuilders fund, which will help community groups transform into sustainable community enterprises, will open for applications from early September.
The Adventure Capital Fund (ACF), which manages the fund in partnership with Futurebuilders England and the Community Alliance, confirmed this week that all funding packages and details had been given the green light by the Office of the Third Sector and Communities and Local Government.
The fund will provide development, feasibility or investment packages of loans and grants ranging from £2,000-£2m to organisations in England, helping them grow and reduce their reliance on grants. Development investments include a mentoring 'supporter', who will lead organisations through an 'honest exploration of the health of the organisation'.
To be eligible, organisations must be based in England, have a track record of community involvement and be locally controlled by local people or representatives of local groups making the spending, staffing and other decisions.
The cash aims to help these organisations change the way they operate so they are able to run enterprise activities such as managed workspaces, conference facilities or take on public sector contracts and establish themselves as successful community businesses.
To find out more about the fund, the eligibility criteria and to register interest, visit www.communitybuildersfund.org.uk or call 0191 261 5200.
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