The fund offers unsecured loans of between £50,000 - £250,000 with repayment terms up to 5 years and at an interest rate of between 6-12%.
The loan could be used for many things, including capital to purchase a building, capital for the development and/ or refurbishment of a building, capital to purchase equipment, seed capital to start something new, growth capital to increase the capacity of an organisation.
The fund is financed by £1 million from the Social Investment Business Foundation’s Communitybuilders Fund and £1 million from the European Regional Development Fund (ERDF) 2007-13 programme.
This is a 10 year fund with two waves of investment of up to 5 years. The first wave of investments will be made in 2014-2015. A second wave of investments will be made in 2017-2019 from the returns on the first wave.
At the end of the 10 year period 50% of the remaining funds will constitute a legacy for social enterprises in the Liverpool City Region, which will allow further investments into locally based social enterprises.
Pulse is assisting with development and promotion of LCRIF in the Liverpool City Region and is currently exploring ways of providing investment readiness support.
If you are interested in the fund please contact the Pulse Team on email@example.com or call Caroline Lewis for further information on 0151 475 7000.