We are pleased to announce that our Charity and Social Enterprise team has just completed work on the formation of a new Resilience and Recovery Loan Fund to provide charities and social enterprises with emergency coronavirus related loan finance.
The fund will be run by our client Social Investment Business and is backed by an initial £25m from Big Society Capital and may grow to £100m with funding from other sources. A range of foundations engaged in social investment are now exploring joining the lending group. We also developed the model documents being used for lending to charities and social enterprises.
Whilst everyone played their part, Sung-Hyui very much led the charge on the transaction over the last eight weeks – we could not have done it without her expertise and commitment.