The deadlines for applications are 27th November for equity applications and 29th January 2025 for development grant applications.
The objective of this funding is to assist community businesses in England, whether they are in the initial or established stages of a community share issue.
The Community Shares Booster Fund is offered through the collaboration of Power to Change and Architectural Heritage Fund, in conjunction with Coops UK, Locality, Plunkett Foundation, and Co-operative and Community Finance.
The following support available:
- Pre-grant support: A few days support for early-stage activity to get started.
- Development grants: of between £2,000 and £10,000, 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).
