ASDA Community Capital reopens for applications from 1st February 2016 and will remain open throughout the year as funds allow. The fund is designed to support early stage social enterprises looking to access social investment for the first time. Using money raised through the Plastic Bag tax introduced in Scotland in October 2014, the fund aims to support social enterprises to make the step change they need to increase their social impact and\/or financial sustainability. <\/p>\n
ASDA Community Capital has been specifically designed with affordability and flexibility in mind.
\nLoans range from \u00a310k to \u00a350k with no penalty for partial or full early repayment
\nRepayable over a maximum of 6 years.
\nFixed interest rate of 5% (chargeable from year 2)
\nNo interest charged or accrued in Year 1.
\nNo repayments in Year 1 (Interest and capital repayments start from Year 2)
\nNo security required
\nNo Arrangement fee.<\/p>\n
Further details are available here:
\nhttp:\/\/www.socialinvestmentscotland.com\/looking-for-investment\/our-funds\/asda-community-capital\/ <\/p>\n
Update: In order to support as many eligible organisations as possible, we are actively encouraging applications for organisations looking to borrow between \u00a310-25k. Get in touch with us to find out more.<\/p>\n
With limited funds available, enterprises are encouraged to get in touch as soon as possible but no later than 14th October.<\/p>\n
Location: All Scotland<\/p>\n