Grants of up to £50,000 are available to Credit Unions and personal finance-focused Community Development Finance Institutions (CDFIs) in the United Kingdom to deliver services over the course of a 12-month period.
Grants will be made to organisations which demonstrate their ability to deliver against one or more of the following objectives of the Fund:
- To improve access to affordable credit to those people on low incomes and living in areas where the need for affordable credit can be demonstrated.
- To increase the existing community finance providers’ capacity to deliver affordable credit to low income consumers and microenterprises or SMEs unable to receive credit elsewhere.
- To provide financial support to credit unions and CDFIs that are starting up, merging or forming partnerships in areas where public access to affordable credit is restricted.
- To support the organisations funded in developing and improving their business services through encouraging voluntary participation by Barclays staff.
Grants may be used for a variety of purposes including (but not limited to) marketing, infrastructure, product development, mergers between businesses and the delivery of financial capability or money advice services.
Beneficiaries must be members of Transact (membership is free) and have been nominated in writing by one of the following:
- An existing or previous funder.
- A provider of in-kind support (for instance, provider of the business’s operating premises such as a local authority or housing association).
- An external evaluator who has previously evaluated the community finance provider.
- A Member of Parliament for the constituency the organisation operates in.
- An employee of Barclays.
- Possible other third parties on agreement with Transact.
The deadline for applications is 1 April 2012.
Go to: http://transact.org.uk/
(Source: Grantfinder)
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