Development Funding for UK Food and Farming Social Enterprises
A national programme is accepting applications.
A blend of loan finance and grant funding is available to cooperatives, social enterprises and community businesses working in the UK’s agriculture and food production sector to support and develop their work, helping to increase their social impact.
The Loans for Enlightened Agriculture Programme (LEAP) forms part of the Funding Enlightened Agriculture (FEA) initiative provided by the Real Farming Trust. The programme is accepting applications from community-based food and farming enterprises in the United Kingdom.
Priority will be given to organisations with the following ownership/governance structures:
- Community Interest Companies.
- Community Benefit Societies.
- Cooperative Societies.
- Charitable Incorporated Organisations.
The programme offers a blend of affordable loans and grants, together with business advice and support.
- Unsecured loans for a 5-year term.
- For amounts of between £20,000 and £100,000.
- Can be used for capital or revenue costs.
- Interest rate of 5%, calculated on a declining balance, equal instalments basis.
- One-off administration fee, charged at 2% of the loan amount.
Together with a loan, applicants will be offered a grant at 18% of the loan amount. By providing a grant with the loan the programme seeks to alleviate the administrative burden and free up the organisation to concentrate on impact delivery and long-term sustainability.
Applications may be made at any time.
(This report was the subject of a GRANTfinder Newsflash.)