Twelve organisations have been awarded loans worth more than £15m from the Government's £70m Communitybuilders programme.
About 1,400 organisations applied to the fund when it opened last year.
The latest beneficiaries, announced last week, include the Mildmay Community Partnership in north London, which has received a £1.03m investment to extend its premises, and the Barton Hill Settlement, a community centre in Bristol, which has been awarded £1m to develop its facilities.
Glenn Arradon, policy and enterprise manager at the Development Trusts Association, said about 70 organisations would receive major investments and another 150 would receive smaller awards for developing business plans and testing ideas. The fund will close in March 2011.
Arradon said the fund, which has now issued investments worth £22m, would announce successful applicants each month until the end of the year.