Funding body: 
Charity Bank

Working capital loans for charities and social enterprises experiencing disruption to their normal business model as a result of COVID-19.

The Resilience and Recovery Loan Fund, offered by Social Investment Business (SIB), has been expanded and improved to make more loans to charities and social enterprises affected by the coronavirus pandemic. It offers:

  • Maximum loan amount now £1.5m (minimum still £100k)
  • Interest-free & fee-free for the first 12 months
  • Faster than applying for a standard loan

The Resilience and Recovery Loan Fund (RRLF) is a new emergency loan fund which will provide repayable finance to charities and social enterprises who are experiencing disruption as a result of COVID-19 and is intended for such organisations who have an otherwise viable business model. It has been established to make the Government’s existing Coronavirus Business Interruption Loan Scheme (CBILS) more easily accessible to these entities.

Is my organisation eligible?

This Fund is only for UK charities and social enterprises which fulfil the eligibility criteria of both the Fund and CBILS – the full list of eligibility criteria can be found on the SIB website and include:

  • registered charities, community interest companies, community benefit societies – in line with Big Society Capital’s governance principles.
  • have a minimum turnover of £400k.
  • have been trading for a minimum of two years.

CBILS eligibility that applies to the fund includes that organisations must:

  • be UK-based.
  • have a turnover of less than £45m (whole group).
  • have a minimum 50% of income from trading (registered charities and further education colleges are exempt from this requirement).
  • self-certify they have been adversely affected by COVID-19.