Futurebuilders launches £4m loan fund

Cashflow Fund will offer loans to charities committed to winning public sector contracts

A £4m loan fund to provide short-term cash to charities has been launched by Futurebuilders England.

The Cashflow Fund will offer bridging loans, cover for reserves and overdraft guarantees in tailor-made packages of £50,000 and more to charities delivering or hoping to deliver public service contracts.

"The fund will target those organisations that need additional support to help them cover short-term gaps in cash flow," said Sue Peters, managing director of investments at Futurebuilders England, the government-backed loan fund.

"Although bridging loans, reserves cover and overdraft guarantees are types of support we already offer our customers, we decided to earmark £4m specifically for those organisations that would most benefit from this sort of financial boost.

"It is just another way we can assist more organisations to win a share of the new contracting opportunities."

In order to qualify for money from the fund, organisations must be committed to winning public sector contracts, be able to take on a loan and be unable to secure a commercial bank loan.

The fund has no closing date for applications. For more information, visit the Cashflow Fund section of the Futurebuilders website.

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