Money Matters: FC United of Manchester, UnLtd, HCT Group

David Ainsworth's round-up of what's happening in the finance world

HCT Group
HCT Group

The community-owned football club FC United of Manchester has raised £500,000 from a community share issue in less than two months. The club, which was set up in 2005, is aiming to raise £1.5m as part of a £3.5m scheme to build a new stadium. FC United said confirmation from HM Revenue & Customs that the shares would attract 20 per cent tax relief through the enterprise investment scheme had helped to attract investment.

A support package for social entrepreneurs has been launched by the enterprise support charity UnLtd, working with the Institute of Directors and a campaign run by Google called Getting British Business Online. Start-ups will be able to get funding and support from UnLtd, free membership of the Institute of Directors and a free website and domain name.

HCT Group, the community transport social enterprise has raised £1.55m through a mixture of traditional loans worth about £1.15m, and a £417,000 "social loan", whereby repayments are tied to a rise in the organisation's turnover. Funding came from Bridges Ventures, Big Issue Invest and Rathbone Greenbank.

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