# Key Fund to support 100 enterprises a year with £10 million new funding - Link: https://fundraising.co.uk/2016/10/28/key-fund-support-100-enterprises-year-10m-new-funding/ - Published: 2016-10-28T09:00:20+01:00 - Author: Melanie May **North of England investor in community and social enterprises [Key Fund](http://www.thekeyfund.co.uk) has announced its intention to invest in 100 enterprises per year for the next three years, with £10m of new funds.**   The new funds are being announced at its launch event today. They include a £5.5m Northern Impact Fund, supported by[ Access – the Foundation for Social Investment](http://www.access-socialinvestment.org.uk), with funding from [Big Society Capital](http://www.bigsocietycapital.com) and the [Big Lottery Fund](http://www.biglotteryfund.org.uk). Key Fund has also secured £4.5m of new finance direct from Big Society Capital, to support general investment activity. ## Advertisement   Key Fund’s mission is to invest in enterprises that make a real difference to local communities. All of its investments are made to enterprises turned down by mainstream finance providers, particularly those with a high social impact in disadvantaged areas.   In the last year Key Fund invested a total of £10m in 201 enterprises, which received from £5k to £300k each. According to Key Fund, the investments created 37 new businesses, created 293 jobs and safeguarded 188 jobs, and included [East Street Arts](http://eaststreetarts.org.uk/), which received a £110,000 loan to renovate a building in Leeds and create a residential Art Hostel and creative hub. Eudaimonia, which provides affordable, healthy ‘social’ eating to help address social isolation and improve community health through its Super Kitchen, received a £90,000 loan to help it purchase a vehicle and ancillary equipment.   Nicola Greenan, external relations director for the Art Hostel (pictured), said:   > “Even though it’s a strong business model because it’s completely new and we’re > a charity, it was difficult to get high street lending, especially in the current > economic climate. Without Key Fund’s support, the project wouldn’t have happened.”   Matt Smith, CEO of Key Fund, added:   > “There are inspiring businesses and individuals who are not only generating jobs > in some of the most disadvantaged communities, but are also tackling deep-rooted > social issues. We’re now looking for 300 more community and social enterprises > to come forward over the next three years, whether they are start-ups or existing > enterprises looking to expand, diversify or grow.”   Information on how to apply for the Northern Impact Fund is available on the [Key Fund site](http://www.thekeyfund.co.uk). * **[Charity partner sought for Manchester beer festival](https://fundraising.co.uk/2017/01/03/charity-partner-sought-manchester-beer-festival/)**( 3 January 2017) * **[Buy and sell app Buengo to launch in Manchester with virtual charity shop campaign](https://fundraising.co.uk/2018/04/24/buy-sell-app-buengo-launch-manchester-virtual-charity-shop-campaign/)**( 24 April 2018) * **[Assura supports Warrington charities with Healthy Communities grants](https://fundraising.co.uk/2018/09/24/assura-supports-warrington-charities-healthy-communities-grants/)**( 24 September 2018) ![Loading](https://fundraising.co.uk/wp-content/plugins/page-views-count/ajax-loader- 2x.gif)