SE-Assist Croydon

Contact Us & FAQ

Contact Us

Our team are always happy to help so please click here to email any questions you have and we will respond to your query within 72 hours.

Frequently asked questions

Click here to email us if you have a question that isn’t covered below.

When does SE-Assist open for applications?

SE-Assist opens for applications at 9am on 8 June 2015

How long is the application process open for?

SE-Assist closes for applications at 9am on 20 July 2015

When will I know if my application to SE-Assist has been successful or not?

The process page shows how we will be reviewing applications; if you are unsuccessful at any stage we will let you know within 72 hours. You will receive an email directly to the email address provided on the application form to inform you of the outcome at each stage.

I’m not currently set up as a social enterprise. Am I still able to apply to SE-Assist?

If you are not currently set up as a social enterprise you must have clear plans as to you how you will constitute yourself (including draft Memorandum and Articles of Association) and clear business plans. If we make an offer of support, you will not be able to receive the loan until you are constituted.

How long does it approximately take to complete the application form?

This will vary depending on how accessible your business information is. If you have the details to hand and have a well planned proposition then it will not take you long.

Do I need a business plan?

A formal business plan is not a requirement of the application process. However, we positively welcome additional supporting materials and detailed information. A business plan is a great way for us to understand your proposal in more depth and demonstrates that you have carefully thought through your planned development.

What are the payback terms?

The loans are interest free and there are no fees for taking on an SE-Assist loan. Loans should be paid back within two to three years, usually in monthly or quarterly installments.

How long before I can draw down on the loan?

Once approved, there will be a period of legal completion before you are able to draw down the approved funds. During this time, you will be required to submit certain identification documents and signed resolutions in order to legally complete.
The final drawdown date for the loan will be stated on the terms of conditions of the loan and will depend on the information you have supplied during the application phase. All loans must be drawn down within one year of accepting the offer.

What can’t the loan be used as payment for?

As the loan uses charitable money the loan has to be used for a social purpose. If you decide to change direction of how the money will be used then you need to report back to your mentor to gain clearance from the Social Investment Committee.

What reporting requirements are there?

You will be expected to work closely with your mentor to provide quarterly updates on your organisation’s activities to the Social Investment Committee. You will also be expected to submit quarterly financial information.

How long will the mentoring relationship last with my mentor from Legal & General?

The trained mentor will remain engaged for the lifetime of the loan, or a maximum of 18 months.

What does a Legal & General employee know about social enterprises?

Legal & General employees will receive training from CAF about the key differences between working in a large corporation and a small social enterprise. The mentors will be able to provide a high level of business experience, access to expertise within Legal & General if they don’t have the expertise that is required and, often most importantly, someone to talk through the difficult issues.