HACT and the Community Development Finance Association (CDFA) are still recruiting housing associations for the second wave of the Start up micro enterprise programme aimed to start in September 2015.
This project aims to bring together resources from housing associations, Community Development Finance Institutions (CDFIs) and The Start Up Loans Company to create loan funds to support residents looking to start their own businesses.
The first wave follows 12 pilots who are currently creating viable and scalable micro-loan funds for their entrepreneurial residents.
If a housing provider or a consortium of housing providers invests £50,000, we are able to lever in a further £100,000 from our social investor, the Start up Loan Fund.
| Housing Association | Social Investor | Total Fund |
| £50,000 | £100,000 | £150,000 |
In partnership with a local CDFI, you will create create a ring-fenced loan fund that will support your residents to fund their start-up businesses. There will be an on-going support package in place for all those taking out loans and regular action-learning sessions together with all the other pilots taking part.
The deliverables for the project are to:
- Create a viable and scalable micro-loan fund that supports residents into self-employment;
- Develop a Community Finance partnership modelled by Housing Associations and CDFIs;
- Share best practice and develop the model through the action-learning pilot programme;
- Evaluate the social, economic and financial impact of the micro-loans; and
- Create a viable long-term funding model.
If you’re interested in taking part, we would love to hear from you! To receive further information, please contact John Coburn or call 0207 250 8500.