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Social Investment Fund launched for homelessness
Homeless Link has launched a £4.5 million Social Investment Fund for charities and social enterprises across England working to reduce homelessness.
Reportedly the first fund of its kind exclusively for the homelessness sector, Homeless Link will invest the money over the next three years, offering homelessness organisations unsecured loans of amounts between £25,000 and £150,000, to support organisations in developing new models for income generation and funding and improving their long-term sustainability.
Mark McPherson, director of Strategy and Innovation, said: “This fund is an exciting initiative, and we hope that the investments will unlock innovative ways of working with people experiencing homelessness, and help to put the recipient organisations on a sustainable footing. Importantly, the programme will also help feed in to the bigger picture of how different funding mechanisms can work for homelessness services.
“Social investment is increasingly being explored and used in the non-profit sector, offering a balance of accountability for results, and flexibility around use and repayment. Homeless Link intends to lead the way in understanding the role of social investment in our sector so that we can continue to support our members’ development.”
Funded by Access - The Foundation for Social Investment, Homeless Link will introduce the fund to the sector at an event on 19 June in Central London - http://www.homeless.org.uk/events/social-investment-fund-launch
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