Business Charity Awards: Legal – Weil, Gotshal & Manges LLP and Social Investment Business

In April 2020, social sector organisations experienced a sudden surge in demand for their services as Covid-19 exacerbated existing economic and structural inequalities. But just as they were needed most, their traditional sources of income dried up almost overnight.

Social Investment Business (SIB) was quick to react to the emergency that many of its service users in the third sector faced. Weil, Gotshal & Manges partnered with SIB in its mission to enable these organisations to provide their crucial services, with the launch of the Resilience and Recovery Loan Fund.

The speed with which the RRLF was constructed meant that £28m of emergency funds were available to support the most vulnerable in society at a critical time.

It delivered £250,000 emergency financing to The Royal Society for Blind Children after the charity took a major hit to its income, and a £150,000 loan to Care4All when demand for its meals on wheels service to elderly and disabled people rose by 20 per cent.

In addition, a £360,000 loan and £140,000 grant to Autism Plus helped the charity to invest in digital services and continue to provide wraparound support to individuals with autism and their families.

Weil and SIB’s work on the RRLF has meant that in two years more than 18 individual lawyers have provided more than 600 hours of pro bono legal advice to enable SIB to raise £50m in social investment.

Finalists

WaterAid and Eversheds Sutherland

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