Scottish fund for third sector business centres opens for applications

The Scottish Council for Voluntary Organisations and the Unity Trust Bank established the £50m loan fund

SCVO and Unity Trust Bank launch fund
SCVO and Unity Trust Bank launch fund

A £50m loan fund to help charities in Scotland buy buildings to open third sector business centres has officially opened for applications.

The scheme, run by the Scottish Council for Voluntary Organisations and Unity Trust Bank, will operate over five years.

The fund, announced in December, is open to SCVO members that want to buy premises either individually or jointly. Individual loans of up to £5m will be available, and up to £10m will be lent in each year.

John Ferguson, director of development and programmes at the SCVO, said the programme had already attracted a high level of demand, but he was still keen to hear from other organisations that thought the fund could help them.

"Increasingly, we are seeing the ownership of premises become an important means by which voluntary organisations can control their costs and ensure sustainability," he said.

"This scheme is aimed at helping more organisations achieve this goal, while benefiting from the shared back-office services and the proximity of working with other like-minded organisations."

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