The Government's £70m Communitybuilders fund will open for applications on 7 September, the Adventure Capital Fund has announced.
The ACF, which manages the scheme on behalf of the Communities and Local Government department and the Office of the Third Sector, has also announced the criteria that organisations must meet in order to be eligible for funding from the scheme.
The Communitybuilders fund will provide loans and grants to help community-based organisations in England that boost interest in local democracy and improve community cohesion.
The funding criteria say organisations must have plans to become less dependent on grant finance, be controlled by local people and or groups and have a track record of working in the communities they are based in.
Cash from the fund will fall largely into three areas: a development package, which will consist of business support and grants of £2,000 for staff training; a feasibility package, which will include further business support and grants of up to £20,000 for project development, with up to £75,000 available for some larger projects; and tailored investment packages, which will consist of loans of between £50,000 and £2m to help organisations expand their role in the community.
For further details on how to apply, visit the Communitybuilders fund website.