About this Funding:
It has been announced that the current round of the Booster Fund will be coming to an end in early 2025.
The Fund supports new and existing community businesses in England that are at all stages of launching a community share issue. This includes the very early stages of exploring whether it is the right choice, through planning a community share issue to being ready to launch, or in exceptional cases, recently launched.
The Fund offers the following support:
- Pre-grant support: A few days support for early-stage activity to get started.
- Development grants of between £2,000 and £15,000, averaging around £5,000, to prepare a community share offer. This support can cover financial planning, governance support, marketing costs and being assessed for the Community Shares Standard Mark.
- Equity match investment ranging from £10,000 to £100,000, although the typical investment is expected to be £20,000 to £50,000. This is an offer of investment to match money raised from the community, providing the minimum share offer target is achieved. Applications for equity match are open to community businesses that are investment ready, including those that have already launched their share offers.
- Subscription underwriting: If affordability is an issue for community investors, Co-operative and Community Finance (CCF) can offer an interest-free repayable loan to enable people to buy shares through instalments over a maximum of 12 months, with the society receiving the full investment upfront.
- Loan finance: may be available from Co-operative and Community Finance (CCF).
Priority will be given to:
- Disadvantaged, less affluent and under-represented communities, particularly minoritised ethnicities, young people and communities facing systemic inequality.
- Projects that meet critical needs of their communities. There is particular interest in project that address climate change issues and digital inclusion.
There is a two-stage application process. Expressions of Interest can be made at any time. Those who are successful will be invited to submit a full application.
The deadlines for applications are 27 November for equity applications and 29 January 2025 for development grant applications.
Funding Criteria:
More information available directly from the funder.