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Futurebuilders — Modernisation Fund Futurebuilders England, the agency that supports third sector organisations wanting to improve their ability to deliver public services, will launch a Modernisation Fund in April 2009. This Fund is part of the Government’s action plan for the third sector in the recession. Loans will be made available to third sector organisations in England with a turnover of at least £750,000. The money should be used to focus on mergers and activities related to financial and other capacity issues associated with them. The loans will be for between £30,000 and £500,000 and they will be interest free for up to five years. Rather like a DFS sofa, it might be possible to defer payments on the loan for the first twelve months. Once applications are invited from April 2009, the Modernisation Fund will operate for a year. (Smaller organisations will be able to take advantage of a grant scheme operated by Capacitybuilders, with the similar aim of purchasing business support to help explore the possibility of collaboration, merger, restructuring etc. This scheme will not be launched until early in the summer of 2009 and we will cover it in more detail then).
This page was last updated on March 3, 2009 |
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