# Big Issue Invest opens £15mn Impact Loans England Programme

- Link: https://fundraising.co.uk/2024/01/18/big-issue-invest-opens-15mn-impact-loans-england-programme/
- Published: 2024-01-18T09:00:00+00:00
- Author: Melanie May

**Big Issue Invest (BII) is looking for social ventures and charities across England
to apply to its new £15mn Impact Loans England programme.**

[The Impact Loans England programme](http://www.bigissue.com/invest/impact-loans-england)(
ILE) is a competitive blended loan/grant product that is designed to provide an ‘
inclusive, flexible and patient’ loan offering to help social organisations and 
charities grow.

As such, it will provide early-stage ventures with loan products that can help social
businesses deal with seasonal fluctuations in income and the uncertainty of the 
UK’s economy.

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BII is offering between £20,000 to £400,000 with up to 20% of this amount as a grant
to investees, with terms of between 1 to 8 years and an interest rate of ca. 7.5%-
8.5%. There is potential for up to 12 months of initial interest-only period and
no early repayment charges.

In addition, there are Reach Fund grants available of up to £15k support to finetune
application plans, forecasts and more. The programme also offers the provision of
a dedicated account manager to assist with applications and to provide ongoing support.

![](https://wfay6x.infiniteuploads.cloud/2022/08/1.jpg)

The Fund is looking to invest across the England, particularly in areas of poverty
that have a greater need for support and investment including those working in marginalised
communities and those led by Black, Asian, minority ethnic and/or disabled people.

Danyal Sattar, BII’s CEO, said:

> “We are pleased to be offering social enterprises and charities this programme
> of support. There is an increasing need for loan products that can help social
> businesses make the most of growth opportunities but also deal with the uncertainty
> inherent to the UK’s post-pandemic economy.”

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