Futurebuilders England and Capacitybuilders to deliver £16.5m Modernisation fund
Howard Lake | 2 March 2009 | News
Futurebuilders and Capacitybuilders will together deliver the £16.5 million Modernisation Fund, part of the Government’s £42.5 million initiative to help the third sector through the recession.
The Modernisation Fund is designed to help organisations “become stronger and more resilient to the impact of the recession”. It consists of both loan and grant funding.
Futurebuilders will offer loans of between £30,000 and £500,000 to larger third sector organisations with a turnover of £750,000 and over. These loans will focus primarily upon mergers, and activities related to the financial and capacity issues associated with these. Applications for loans will be invited from early April 2009 for a period of one year.
Capacitybuilders programme of smaller grants will be launched in early summer 2009. These grants will be available to third sector organisations with a turnover of under £1 million to assist them with the purchase of business support to help explore the benefits of collaboration, merger, restructuring and to help meet the costs associated with these.
www.cabinet-office.gov.uk/third_sector
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.