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Lloyds Bank Foundation launches £3mn racial equity fund

Melanie May | 30 March 2023 | News

A man kisses his baby son, who is smiling. By Kelly Sikkema on Unsplash

Applications are open for unrestricted grants from Lloyds Bank Foundation for England and Wales, supporting small charities and CICs led by and working with people who face inequity because of their race or ethnicity. 

Around 40 grants will be awarded through the £3mn fund, to focus on immediate and long-term support to help people break free from poverty. The deadline for applications is 5pm on 31 May.  

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Paul Streets, Chief Executive of Lloyds Bank Foundation for England and Wales, said:

 “The small and local charities we partner with, run by minoritised communities, witness first-hand how structural and institutional racism continues to impact lives. These charities often find it difficult to secure funding and yet play a crucial role in reaching those often left behind by mainstream services.  

 

“Building on the insights and experience we’ve gained over recent years, we are dedicated to addressing the funding inequalities experienced by Black, Asian and minoritised ethnic led charities to help them continue to support people confronting racial injustices. We continue to learn and improve our practices, codesigning this funding programme with organisations that work in this area and enabling charities to do what they do best – offering a trusted lifeline and helping communities overcome disadvantage.”

Who can apply

Charities and CICs led by the communities they serve and with an annual income between £25,000 and £500,000 can apply for a three-year, unrestricted grant of up to £75,000. Alongside the funding, the Foundation will offer each charity or CIC a range of tailored additional support to help organisations strengthen, be more resilient and develop further. 

This programme is aimed at organisations outside of London as these organisations have historically received less funding than London based charities. For London based organisations, the Foundation has collaborated with other London funders through the Propel programme, a 10-year programme to address inequality in London, awarding £375,000 so far.   

Since 2020, the Foundation has distributed more than a quarter of its funding to charities led by and for Black, Asian and minoritised ethnic communities.

More information on the funding available is available here, and a Racial Equity funding eligibility webinar and Q&A will take place on 20 April, from 10.30am-12 noon. Places for this can be booked here.  

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