Do you want to reduce the energy costs of a community owned or managed building in Greater Manchester?
Would you like to reduce your carbon footprint by making your building more environmentally friendly?
Would you be interested in taking on a loan to install energy generating/saving technology?
We have funding available to support trading voluntary and community organisations and social enterprises which will provide blended finance (loan and grant combined) to enable you to retrofit energy generating/saving technology on community owned or managed buildings. The initial focus is to stabilise or reduce energy costs and if possible, to target high energy users working in deprived communities or with marginalised groups.
Who is this investment fund for?
Incorporated social enterprises or trading charities with community owned or managed buildings who wants to reduce their carbon footprint and reduce their energy costs.
What we offer:
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Loans between £10,000 - £150,000
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40% of the total funding offered as a grant (for example 60% loan, 40% grant)
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Loan term: 12 months – 7 years
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Interest rate: 6.5% flat rate
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Repayments based on the savings made on bills by installing energy measures
Eligibility criteria:
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Community owned or managed buildings with a minimum 12-year lease
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At least 30% of your income should be generated through trading (such as renting rooms, selling goods and/or services). The fund cannot support organisations who are totally dependent on grants.
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An energy audit of the building, carried out in the last 12 months is required. If you don’t have an audit, a grant of £500 - £2,500 may be available to carry one out - this will only be awarded to organisations who are serious about taking on a loan to make building improvements.
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Must be an incorporated entity
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Must have clear social aims and objectives, and fit one of the following descriptions:
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Not for private profit
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Asset locked or private profit distribution restrictions in structure/governing document.
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Have clear policies or restrictions around profit distribution
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How do I find out more?
If you think this fund might be right for you, please contact Ali Crush: alison.crush@gmcvo.org.uk / 07387 802159 to arrange an informal chat.
To find out more about how social investment works, read our Frequently Asked Questions.
The Energy Resilience Fund is managed by the Key Fund with GMCVO as a local delivery partner. The Key Fund make final decisions on the awards.
