Finance: Futurebuilders settles on year-round applications

Voluntary organisations will be able to apply for investment from Futurebuilders at any time from this May because of a change in its application process.

The Government-backed finance fund has previously allowed bids to be made only during designated three-month windows. The most recent one closed at the end of September last year.

From May, however, it will be open for applications continuously. Richard Gutch, chief executive of Futurebuilders, said: "We recognise that voluntary groups want to approach us for finance and support at any time of year, and that their funding requirements won't necessarily fit into a three-month slot.

"We are keen to give groups the widest possible opportunity to develop their business plans and respond quickly to potential purchasers of their services."

Futurebuilders has so far approved investments of £37m in 115 organisations.

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