Social enterprises in Plymouth invited to apply for funds

Social enterprises across Plymouth are being invited to apply for a share of a £300,000 pot of loans and grants to help their business flourish.

Plymouth City Council is launching another round of its innovative Social Enterprise Investment Fund and the successful bidders will be able to join a growing rank of organisations who have received capital investment to turn cracking ideas into businesses that help the people of Plymouth.

The funding, worth £2.5 million over four years, will offer organisations and businesses a mixture of capital loans and grants to enable them to create work and offer neighbourhoods more opportunities, making Plymouth a better and fairer place to live.

So far 38 businesses have benefitted from the fund, which is helping to create 200 full time jobs and has levered in over £2.2 million of match funding.

Councillor Dave Downie, Cabinet Member for Safer and Stronger Communities for Plymouth City Council, said: “We are very happy to support local organisations who want to contribute to their communities so we have launched our Social Enterprise Fund to enable us to provide loans and grants to enterprises in Plymouth. This is about helping enterprises that have already got off the ground take the next step.”

You can apply online here.