Futurebuilders gets £25m funding boost

Government loan fund Futurebuilders announced at its conference yesterday that it is to gain an extra £25m funding from the Cabinet Office, bringing its total funding pot to £150m.

The extra money will cover the fund’s activities until the contract is put out for re-tendering in March 2008. Futurebuilders has made £101m investments in 225 organisations since it was set up in 2004.

“We are absolutely delighted to have an additional £25m to spend in 2007/08,” commented Futurebuilders chief executive Richard Gutch. “The appetite for alternative finance is definitely growing.”

“Since we opened in 2004, Futurebuilders has received over 1,300 applications for over £1bn. This extra funding will help us to invest in many more third sector organisations,” Gutch added.

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