A new £20million fund to support organisations across the third sector who are at risk of closure due to the disruption caused by Coronavirus.
The Third Sector Resilience fund will distribute £20m of emergency funds over the coming months.
Delivered by Firstport, Social Investment Scotland and the Corra Foundation it is part of a £350million support package announced by the Scottish Government for the sector.
The Fund will support charities, voluntary organisations, social enterprises and other third sector organisations that already deliver vital services in communities but that find themselves in financial difficulties directly because of the Coronavirus pandemic.
The primary intention of the fund is to help these organisations to stabilise and manage cashflows over this difficult period.
What you need to know:
The fund is open to charities, voluntary organisations and social enterprises from today, 25th March 2020.
Grants available between £5,000 – £100,000. In addition, there is up to a further £5million available in fully flexible, 0% interest interest loans starting at £50,000.
For more information and to apply, visit SCVO’s Coronavirus Third Sector Information Hub.
Other COVID-19 Funding Support
The Third Sector Resilience Fund is part of a range of support available to third sector organisations.
Other potential sources of funding support include:
The UK Government has announced a range of measure, including reimbursing 80% of furloughed workers wage costs, up to a cap of £2,500 per month. Link:COVID-19 Support for Businesses
The Scottish Government has launched a £1billion Business Support Fund, as part of a range or measures – Link: Coronavirus advice for businesses in Scotland
Support for Business in Scotland: #COVID-19 #Coronavirus
What can remain open: #COVID-19 #Coronavirus
The Coronavirus Business Interruption Loan Scheme can provide facilities of up to £5 million for UK smaller businesses who are experiencing lost or deferred revenues. Available through accredited lenders including RBS, Barclays and Natwest.
Link: The Coronavirus Business Interruption Loan Scheme (CBILS)
Trusts, Foundations and Third Sector Funds:
Many funders are offering additional flexibility with their existing grantees. If you have not already heard from them, check their website or get in touch with them directly to discuss.
Martin Lewis Coronavirus Poverty Relief Grant – £5,000 to £20,000 to small registered charities, or local arms of bigger charities. Closes TONIGHT Wednesday 25th March at 11.59pm. Link: Martin Lewis Coronavirus Poverty Relief Grant
Details to be Announced:
National Emergencies Trust – A National Coronavirus appeal has been launched to raise funds for local charities and grassroots organisations. In Scotland, funds will be distributed by Foundation Scotland. Link: National Emergencies Trust
Wellbeing Fund – A £50 million Wellbeing Fund will provide support to third sector partners. Link: Wellbeing Fund
Supporting Communities Fund – A 40 million fund will support community efforts at local level . Link: Supporting Communities Fund
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