In this post, we share the response and resources from social investors and Good Finance.
Social Investors Respond to COVID-19: our support & commitment (March 2020)
We are all aware the coronavirus outbreak means this is a very challenging time for all. We know this will include the charities and social enterprises we work with, many of whom work with the most vulnerable people. Our priority above all is to work collectively and with urgency to help where we can.
We want to reassure all of the organisations we invest in that we will support you and be as flexible as possible in the coming months. We are actively working together on how we can adapt existing schemes and funds. We are also working with government and other funders to establish new programmes that may provide additional help. We recognise that grants and business support will be at least as important as social investment.
The most important message is:
- If you have investment from one of us and think you may need support or flexibility, please get in touch; we will do our best to help. If you might need investment to help you through difficult trading, please speak to us
- We are creating a dedicated page on Good Finance which will be updated regularly with any new information (including on any emergency funding sources) as well as via our social media channels
This statement is co-ordinated by Social Investment Business, Big Issue Invest, Access & Big Society Capital for social impact investors. If your organisation would like to add its name to this statement, please email firstname.lastname@example.org.
- Architectural Heritage Fund
- Arts & Culture Finance by NESTA
- Barrow Cadbury Trust
- Big Issue Invest
- Big Society Capital
- CAF Venturesome
- Charity Bank
- Co-operative and Community Finance
- Community Impact Partnership CIC
- Esmee Fairbairn Foundation
- Fair4All Finance
- FEA Network
- First Ark
- Joseph Rowntree Foundation
- Key Fund
- Mustard Seed
- NatWest Social & Community Capital
- Northstar Ventures
- Social and Sustainable Capital
- Social Investment Business
- Social Investment Cymru
- Social Investment Scotland
- Sporting Capital
- Triodos Bank
- Trust for London
- The Young Foundation
What we're doing at Good Finance
Many Good Finance users and social investees are understandably worried - whether that’s about being able to deliver their impact, ramifications on trading and operating activities, or the health and wellbeing of their stakeholders. It’s important to know that you do not have to go it alone. Now more than even, it’s important to reach out to your social investors and stakeholders.
In the meantime, at Good Finance, we are doing three main things:
- Bringing you information: we are collaborating with social investors and relevant organisations to communicate up to date information with you. Starting with the letter below in which social investors respond to COVID-19, you can also read Big Society Capital’s response here.
- Bringing you support: we are developing a resources hub where we will be sharing information, resources and support designed for charities and social enterprises navigating this situation. We will update you with the link as soon as it's live.
- Championing your voices: Good Finance is committed to being user led. If there is anything you want to tell us or questions you have, please share them here. We are also all ears on our social media.
In March 2020, We pulled together some tips and information together to make it as easy as possible for you to navigate this changing landscape. The guide includes:
- Key principles to help your thinking
- Making the most of government support schemes
- What to consider with your current grants
- What to consider if you currently have social investment
- Navigating your relationship with banks
- Planning for the future
- Further support & resources
Additional guidance on new funds & emergency finance
- Changes to the Growth Fund
- Resilience and Recovery Loan Fund
- Community Enterprise Investment Facility
- Coronavirus Business Interruption Loans Scheme