RESILIENCE AND RECOVERY LOAN FUND TO OFFER REPAYABLE FINANCE TO COVID-19 HIT ORGANISATIONS

1. Title: RESILIENCE AND RECOVERY LOAN FUND TO OFFER REPAYABLE FINANCE TO COVID-19 HIT ORGANISATIONS2. Awarding Authority: Big Society Capital, GB. Web: 3. Contract type: Service contract4. Description: A £25 million emergency fund, which will provide repayable finance to charities and social enterprises directly affected by the COVID-19 crisis launches today.The Resilience and Recovery Loan Fund has been launched by Social Investment Business (SIB) with the initial £25 million provided by Big Society Capital.It will offer charities and social enterprises emergency loans without the requirement of personal guarantees and no fees or interest will be charged for 12 months.This flexibility is possible because the fund provides access to the Government’s existing Coronavirus Business Interruption Loan Scheme (CBILS). SIB will issue the loans, working initially with delivery partners Big Issue Invest, Charity Bank and Social and Sustainable Capital.Over the coming months, Big Society Capital aims to reprioritise and repurpose up to a further £50 million to address the needs of charities and social enterprises and – either through the Recovery and Resilience Loan Fund or alternative vehicles.SIB is also undertaking a series of other measures to help other social sector organisations where the Fund does not suit their needs including:Providing repayment freezes and flexibility directly to its existing customersWorking with partners Access and Power to Change on their emergency responsesWorking as part of the Youth Endowment Fund on a responsive grant round, as well as supporting existing granteesUndertaking two new COVID-19 data projects to understand how support for organisations and communities can be most effectiveConvening social investors to share knowledge and work collectivelyCommitting with other funders on how it will act at this time to support customers5. CPV Code(s): 98000000, 98100000, 981300006. NUTS code(s): UKI, UKI3, UKI317. Main site or location of works, main place of delivery or main place of performance: London, Inner London – West, Camden And City Of London.8. Reference attributed by awarding authority: Not provided.9. Estimated value of requirement: The Resilience and Recovery Loan Fund has been launched by Social Investment Business (SIB) with the initial £25 million provided by Big Society Capital.10. As no deadline date has been specified please contact the awarding authority for further information.11. Address to which they must be sent: For further information and instructions in the above contract notice please visit website: 12. Other information: TKR-2020410-EX-1331989# funding opportunity# COVID-19