Funding to Help Welsh Start-Up Social Enterprises Now Available

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Finance and Investment , 7th July 2021

Social enterprises based in Wales are able to pitch for a blended finance package (part interest-free loan / part grant) of up to £30,000, thanks to a new round of social investment from CAF Venturesome.

The Social Enterprise Assist Fund (SE-Assist Fund), managed by CAF Venturesome, supported by Legal & General and the Wales Co-operative Centre, launches on today with an opportunity to share plans and ideas with a local committee. (Applications close on 23^rd July with committee presentations scheduled for 7^th September).

While 2020 will be remembered as the year of Covid-19, it was also a year of solidarity, community spirit and co-operation. Social enterprises reached out to communities across Wales to support those who needed extra help and stepped in to supply vital resources and to raise money for our NHS. It was a year of enormous resilience and change for the sector.

“This is the fifth year that our SE-Assist Fund has run in Wales and one we feel is more important than ever,” said Holger Westphely of CAF Venturesome, the social investment team at Charities Aid Foundation.

“Since launching in Wales in 2016 the fund has committed £570,000 to 22 wonderful social enterprises. These organisations are vital in supporting vibrant communities. They improve lives, create jobs and help to build a diverse and inclusive local economy. From talking to our partners in Wales we know that that there is a need for a blended finance product to make the cost of social investment capital more affordable for social enterprises.”

To be considered applicants need to have an annual turnover of under £500,000, be working towards a sustainable business model, and demonstrate a clear social or environmental impact. Successful applicants will receive flexible, interest-free loans of up to £20,000 (interest bearing up to £60,000), repayable over three years, together with a grant of up to £10,000.

“We know that for many start-up social enterprises a loan is not always appropriate. This is why we want to offer a blended finance solution,” adds Westphely. “We invite all eligible Welsh social enterprises to apply by 23^rd July. Applicants will work closely with Wales Co-operative Centre which will support them to prepare their social enterprises for investment.”

Lynne Sheehy, Corporate Social Responsibility Manager, Legal and General said:

“Working in partnership with CAF Venturesome and the Wales Co-operative Centre we support start-up businesses in Wales through the SE-Assist fund.

“We recognise and value the positive impact these small businesses have in the heart of our communities and the significant contribution they make to the economy.”

The SE-Assist Fund is delivered by CAF Venturesome in partnership with Legal & General and the Wales Co-operative Centre; with the support of the Welsh Government, Business in the Community Wales and the Institute of Directors Wales.

For further information on how to apply and examples of past successful social enterprise loans, visit Interest-free loans to help your social enterprise grow | SE-Assist (cafonline.org)

Bydd mentrau cymdeithasol yng Nghymru yn gallu gwneud cais am becyn cyllid cyfunol (sef cyfuniad o fenthyciad di-log a grant) o hyd at £30,000, diolch i rownd newydd o fuddsoddi cymdeithasol gan CAF Venturesome.

Mae’r Gronfa Cymorth Menter Gymdeithasol (Cronfa SE-Assist), a reolir gan CAF Venturesome, gyda chefnogaeth Legal & General a Chanolfan Cydweithredol Cymru, yn cael ei lansio ar 28 Mehefin gyda chyfle i rannu cynlluniau a syniadau â phwyllgor lleol. (Y dyddiad cau ar gyfer ceisiadau yw 23 Gorffennaf ac mae cyflwyniadau i’r pwyllgor wedi’u trefnu ar gyfer 7 Medi.)

Er y bydd 2020 yn cael ei chofio fel blwyddyn Covid-19, bu hefyd yn flwyddyn o undod, ysbryd cymunedol a chydweithrediad. Bu mentrau cymdeithasol yn estyn allan i gymunedau ledled Cymru i gefnogi pobl a oedd angen cymorth ychwanegol, ac yn camu i mewn i gyflenwi adnoddau hanfodol ac i godi arian i’n GIG. Bu’n flwyddyn o wydnwch a newid enfawr i’r sector.

“Dyma’r bumed flwyddyn y mae ein Cronfa SE-Assist wedi gweithredu yng Nghymru a theimlwn ei bod yn bwysicach nag erioed,” dywedodd Holger Westphely o CAF Venturesome, sef tîm buddsoddi cymdeithasol y Sefydliad Cymorth i Elusennau (CAF).

“Ers lansio yng Nghymru yn 2016, mae’r gronfa wedi ymrwymo £570,000 i 22 o fentrau cymdeithasol rhagorol. Mae’r sefydliadau hyn yn hanfodol o ran cefnogi cymunedau bywiog. Maen nhw’n gwella bywydau, yn creu swyddi ac yn helpu i greu economi leol amrywiol a chynhwysol. O siarad â’n partneriaid yng Nghymru, gwyddom fod angen cynnyrch cyllid cyfunol i wneud cost cyfalaf buddsoddi cymdeithasol yn fwy fforddiadwy i fentrau cymdeithasol.”

Er mwyn cael eu hystyried, mae angen i ymgeiswyr fod â throsiant blynyddol o dan £500,000, yn gweithio tuag at fodel busnes cynaliadwy, a dangos effaith gymdeithasol neu amgylcheddol glir. Bydd ymgeiswyr llwyddiannus yn derbyn benthyciadau hyblyg, di-log hyd at £20,000 (a benthyciadau â llog hyd at £60,000), sy’n ad-daladwy dros dair blynedd, ynghyd â grant hyd at £10,000.

“Gwyddwn nad yw benthyciad bob amser yn briodol ar gyfer llawer o fentrau cymdeithasol cychwynnol. Dyma pam rydym eisiau cynnig datrysiad ar ffurf cyllid cyfunol,” ychwanegodd Westphely. “Rydym yn gwahodd pob menter gymdeithasol gymwys yng Nghymru i wneud cais erbyn 23 Gorffennaf. Bydd ymgeiswyr yn gweithio’n agos â Chanolfan Cydweithredol Cymru a fydd yn eu cynorthwyo i baratoi eu mentrau cymdeithasol ar gyfer buddsoddiad.”

Dywedodd Lynne Sheehy, Rheolwr Cyfrifoldeb Cymdeithasol Corfforaethol, Legal & General:

“Gan weithio mewn partneriaeth â CAF Venturesome a Chanolfan Cydweithredol Cymru, rydym yn cefnogi busnesau cychwynnol yng Nghymru trwy’r Gronfa SE-Assist.

“Rydym yn cydnabod ac yn gwerthfawrogi’r effaith gadarnhaol mae’r busnesau bach hyn yn ei chael wrth wraidd ein cymunedau, a’r cyfraniad sylweddol maen nhw’n ei wneud i’r economi.”

Mae’r Gronfa SE-Assist yn cael ei darparu gan CAF Venturesome mewn partneriaeth â Legal & General a Chanolfan Cydweithredol Cymru, gyda chefnogaeth Llywodraeth Cymru, Busnes yn y Gymuned Cymru a Sefydliad y Cyfarwyddwyr Cymru.

I gael rhagor o wybodaeth am sut i wneud cais ac enghreifftiau o fenthyciadau menter gymdeithasol llwyddiannus yn y gorffennol, ewch i fenthyciadau di-log i helpu eich menter gymdeithasol i dyfu | SE-Assist (cafonline.org)