Transcript Sam Tarff Presentation - Social Enterprise North West

Social Finance Fair – Big Society Capital
27th February 2014 – Media City, Salford
Sam Tarff
Chief Executive
Key Fund Investments Ltd
www.thekeyfund.org.uk
Key Fund Investments – who we are
• A Social Enterprise providing specialist advice and
access to finance for positive social impact.
• Operating the largest Social Investment Fund in the
North offering unsecured lending to Social Ventures.
• Supporting Social Enterprises since 1998.
• The returns from all loans are reinvested back into
the sector
The Social Impact Fund for the North
Key Fund Investments – who we are
• Providing a Personal ‘Community Banking’ approach
as the lender of first resort.
• Offering flexible , unsecured and tailored loans to
from £1,000 to £300,000
• Offering fixed interest rates and terms
• Making fast decisions with an ongoing supportive
relationship
The Social Impact Fund for the North
Key Fund Investments – in the North
£25m invested in the sector
2,137 - Organisations
supported
212 - New Start Ups,
2,049- Jobs Created/
Safeguarded,
6,500 - Training Opportunities
75% of investments in top
20% most deprived areas
The Social Impact Fund for the North
Key Fund Investments – in the North West
To date Key Fund has
invested £1,879,882 in
the North West helping
52 organisations, 11 of
which were under the
Social Incubator North
Programme.
The Social Impact Fund for the North
Housing People, Building Communities
“Thanks to investment from The Key Fund to support our working capital
during these early stages, Housing People, Building Communities is able to
plough ahead with the venture. Key Fund took the time to fully understand
the issues we were facing and after a thorough review of our financial
forecasts, was happy to support the on-going construction of the Alt site”.
Liza Perry, Executive Director,
Housing People, Building Communities
The Social Impact Fund for the North
Five Children and Families Trust
“As a charity we would not have been in a position to achieve loan funding from a high
street lender, the Key Fund investment has enabled us to carry out extensive capital
works to our childcare centre. Government are providing childcare funding for two
year old children to the living in deprived communities and the investment has
allowed us to respond and enable children in Speke to benefit. There is a strong
evidence base that this will have lasting benefits for those children. We are rated as a
good setting by Ofsted; we believe the work we have undertaken takes us a step closer
toward our ambition to become an outstanding setting”.
Susan Roberts, Director,
Five Children’s and Families Trust Ltd
The Social Impact Fund for the North
Social Incubator North – What is it?
£2m programme co-funded
through the Social Incubator
Fund (delivered by the Big
Lottery Fund on behalf of the
Office for Civil Society)
The Social Impact Fund for the North
Social Incubator North – the story so far
• 1st Round resulted in 173 Expressions of
Interest
• 104 applications submitted
• 30 offers made
• For details of the enterprises supported go to:
http://data.gov.uk/data/viz/investment-readiness-programme
• For information on how to apply
www. socialincubatornorth.org.uk/
The Social Impact Fund for the North
Social Incubator North – What is it?
Up to £25k in interest free loans
Up to 80 hours of tailored 1:1
business support
Peer learning and networking
opportunities
Online learning environment
Access to business space
The Social Impact Fund for the North
Social Incubator North – What's it done?
To date the Social Incubator
North Programme has
committed £1,065,000
helping 30 organisations
across the North of England.
The Social Impact Fund for the North
Social Incubator North – Who’s involved
Key Fund & OCS via BIG provide the money
Locality provide the online support
SENW & other Social Enterprise Network
partners provide the
business advice and support
You provide the passion, creativity and
commitment to make ideas a reality
The Social Impact Fund for the North
Social Incubator North – The offer
• Investment, expertise and support
• Up to £25k in interest free loans
• Up to 80 hours of tailored 1-2-1 business
development support; the support
• Online webinars and Learning Environment
• Peer learning and networking opportunities
• Access to business space
The Social Impact Fund for the North
Social Incubator North – Who can apply?
• Existing or new social entrepreneurs across the Northern half of
England
• Any organisation or individual with a innovative idea which has
a clear social impact – it doesn’t have to be perfectly formed to
start with.
• Your idea has to be NEW – although existing organisations can
apply to develop a new strand to their business.
• The closing date for this round of applications is 5pm, Friday,
28th, February 2014
• Proposed dates for future rounds:
• Opens 7th April 2014 – Closes 21st May 2014
• Opens 4th August 2014 – Closes 17th September 2014
The Social Impact Fund for the North
Greener Memorials
“I’ve never been a business person but have great mentors on the Social
Incubator North scheme who help a lot. I’m setting up as a social enterprise
as I want to give back to the community, and to give work opportunities to
other ex-offenders as it’s harder to get work with a record. This is really
changing my life around, and I hope it will help others too.”
Paul Coulter, Founder Greener Memorials
The Social Impact Fund for the North
Thank You For Listening,
Any Questions?
The Social Impact Fund for the North