Rob Wilson, Minister for Civil Society said: "RBS and NatWest have long been supporters of the development of social finance in the UK. Once again, these organisations are showing their pioneering spirit with this latest announcement, which will help charities and social enterprises to access the investment that they need to grow and remain sustainable."
Peter Holbrook, Chief Executive of Social Enterprise UK, said: “The social investment market is growing fast, but many social enterprises still struggle to find suitable finance. Our research shows that social enterprises are often looking for smaller amounts of investment, so the expansion of this fund is a great move to help keep capital flowing into the sector. RBS has been a longstanding champion of social enterprise and this is another sign of their continued commitment to help the sector grow and thrive.”
RBS’s continuing support for S&CC is part of its Inspiring Social Enterprise initiative, launched in 2013. Inspiring Social Enterprise set a target to support 2,500 social enterprises with access to finance, markets and expertise by the end of 2015. That target has already been exceeded with 2,638 social enterprises supported and £2.9m already invested into social enterprise development.
Applications for RBS Social & Community Capital are accepted year round and more information, including how to request an application form, can be found here .