27 million invested so far (25/07/2005)
18.04.2006
Futurebuilders, the £125 million investment programme for the voluntary and community sector (VCS), is reminding organisations that it is currently open for applications – and the sooner they are received, the quicker they will be processed. The scheme – which aims to help the VCS deliver better public services – provides a combination of loans and grants, together with support to help organisations build their capacity and increase their effectiveness. To date, Futurebuilders has approved investments of over £27 million for 71 organisations throughout England – ranging from small local projects to regional and national charities.
The current application window is open until midnight on Friday 30 September 2005. Organisations looking for finance should visit www.futurebuilders-england.org.uk to find out if they are eligible for investment and to apply online. To qualify, organisations must be prepared to take on a loan and enter into a service delivery contract with a public agency such as a Local Authority or Primary Care Trust.
One organisation that has recently benefited from Futurebuilders’ investment is Liverpool Crossroads Caring for Carers. The charity, which provides support to carers and people with care needs in their own homes, received an investment of £181,000 – comprising a loan and grants. This will pay for a new Finance Manager, office equipment, refurbishment and rental costs, together with money for IT development and equipment, and consultancy for a corporate governance review and a PR and Marketing strategy.
Liverpool Crossroads Chair, Margaret Crichton, said: “Compared with other funders the ongoing support we received from Futurebuilders was brilliant. It was easy to apply and we had an answer quite quickly. Naturally we were worried about taking on a loan but as our board contains individuals with sound financial knowledge we were confident that we had the necessary skills and expertise. At Liverpool Crossroads we had reached a certain stage in our development – which included merging with Sefton Crossroads – and it was time to move up to the next level. Futurebuilders investment has helped us to do this.”
Richard Gutch, Futurebuilders’ Chief Executive said “We want applications from all sorts of organisations; big or small, established or new, urban or rural. We realise that this is a new approach to funding but our team of expert advisors are there to provide advice and support throughout the application process.“