Criteria – Who we can loan to through SE-Assist
How we define social enterprises:
Our definition of a social enterprise is an organisation:
- that trades for a social and/or environmental purpose
- that will have a clear charitable mission, which means it will know what positive difference it is trying to make, who it aims to help, and how it plans to do it
- that brings in most or all of its income through selling goods or services
- that reinvests profits to further its social mission, and/or which, in a ‘wind-up’ situation, remaining assets would be passed on to another non-profit social enterprise that has a charitable purpose
A variety of legal structures will be considered:
- charities with a trading arm
- community interest companies
- companies limited by guarantee
- companies limited by shares, in certain circumstances. Companies limited by shares must ring fence any funds provided by SE-Assist to the charitable project
SE-Assist uses charitable funds to invest in social enterprises. Due to this, all applicants will have to subject to CAF’s charitable validation process.
From your application we want to understand what you are trying to achieve and how our support package will help you.
We have put together a comprehensive package of an interest free loan, a mentor and expert consultancy to help you succeed.
We will judge applications against the criteria set out below, and will communicate with you at key points of the application review process.
It is important that you read and understand the application criteria before applying.
The applicant must:
- be based within Sussex
- have a social impact that addresses a local social or environmental need, in line with the non-profit social enterprise definition set out above
- turnover less than £500,000 pa (over the last three years) for the organisation, or specific initiative, for which you are applying
- have borrowing powers as defined in your constitution
- be willing to engage in ongoing learning and development process to improve the SE-Assist proposition
- have, or be working towards, a sustainable business model
- be seeking support for organisational growth or sustainability
- have a clear need for package of support that SE-Assist will provide
- demonstrate how the support package will help to achieve your organisation’s aims
- outline how the loan will be used and repaid