£125m government Futurebuilders fund set for May launch

Futurebuilders, the £125m government fund to help charities provide more public services, is to be launched on 5 May.

Home Secretary David Blunkett and voluntary sector minister Fiona Mactaggart will be at the launch, which will cost charities £65 to attend. The focus of the event will be to advise organisations on how to prepare applications to the new fund.

The first round of funding from Futurebuilders is expected to take place in either July or August.

A spokeswoman for the fund said it would offer a different kind of financing from the traditional grant-based approach.

"An organisation may be seeking £1m in funding. We may give £250,000 as a grant, £250,000 as a loan and then help them raise the rest of the money," she said.

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