Twenty-two small and local charities across England who have been awarded grants totalling £1.4m by Lloyds Bank Foundation as part of its Invest programme, have also been offered a share of additional funding worth almost £400,000 from the Big Lottery Fund without the need for further grant applications or subsequent monitoring processes.
By co-funding grants, the funders hope to help strengthen small charities struggling in today’s economic environment and support them to reach more people in need in their local communities. The additional funding from The Big Lottery Fund was offered to help them bridge further funding gaps they had identified through their ongoing relationship with their Lloyds Bank Foundation regional grant managers. Contributions from the Big Lottery Fund range from £3,000 up to £45,000.
Following this initial pilot, Lloyds Bank Foundation and the Big Lottery Fund are now considering further options for joint working to continue growing support for and investing in small and local charities.
Paul Streets OBE, chief executive of Lloyds Bank Foundation for England and Wales, said:
“Small charities play a critical but often unseen role in local communities but are facing unprecedented pressures from funding cuts and with growing demand for their services. As funders, we have a collective duty to believe in those charities that are making a difference on the ground by reducing administrative burden and doing whatever we can to see these charities better supported.
“By working together, Lloyds Bank Foundation for England & Wales and the Big Lottery Fund will facilitate more money towards small and local charities and strengthen this sector. At a time when too many small charities are at risk, we hope we can demonstrate to other funders, Government and larger charities that by working together we can better help to secure the knowledge, expertise and essential public services that small charities offer our communities.”
Image: Beacon House Ministries, Colchester, which has received funding from Lloyds Bank Foundation for England and Wales
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