The Somerset Social Enterprise Fund (SSEF) is a locally managed social investment fund designed to help voluntary, charity and social enterprise (VCSE) organisations in Somerset start new initiatives or grow successful ones to become more financially sustainable.
SSEF is funded by Somerset County Council and the Growth Fund, an initiative of Access – the Foundation for Social Investment in conjunction with the Big Lottery Fund and Big Society Capital. It provides a blended package of loans and grants to support work that will make a social impact within local communities while also generating a financial return.
We understand that social investment will be new to many local VCSE organisations. Unlike regular grants programmes, successful applicants receive additional advice and support.
Features of the SSEF include:
- Blended, unsecured social investment of between £25,000 and £100,000
- Grants will normally be up to 50% of an accompanying loan
- On-going support to help you succeed in your venture or project
- Fixed interest rates (currently 6%*)
- Each loan will be made subject to general and specific terms and conditions.
- Each loan will be subject to a 1% fee, that may be added to the loan and which contributes to costs incurred in establishing and maintaining the SSEF.