Finance: Futurebuilders hits a century of loans and grants

More than 100 voluntary organisations have now received funding from the sector finance body Futurebuilders.

The government-backed fund has now agreed a total of £36m in loans and grants with 102 organisations, in areas such as education and social care.

Among the latest to agree an investment package is the Ariel Trust, a radio training agency for young unemployed people in Manchester. The group got a £14,000 development grant from Futurebuilders in 2005, and has now been awarded a £120,000 loan and a £50,000 grant to help it expand its training across the north west of England and cover Liverpool's period as European Capital of Culture in 2008.

"The Futurebuilders loan has enabled us to secure our future," said Paul Ainsworth, director of the Ariel Trust.

Another 12 organisations that initially received development grants are currently being assessed for their loan suitability.

Futurebuilders' next window for applications for funding begins in May.

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