The SNP Government has allocated £20 million to its Third Sector Resilience Fund (TSRF) for charities to help them through the crisis.
The TSRF is an emergency fund for charities, community groups, social enterprises and voluntary organisations working in Scotland to support those that already deliver services and products but find themselves in financial difficulties directly as a result of the pandemic. The primary intention of the fund is to help them stabilise and manage cash flows over this difficult period.
The Fund is delivered by Firstport, Social Investment Scotland and the Corra Foundation and provides grants up to £100,000. In addition there is up to £5 million available in fully flexible, 0% interest loans starting at £50,000. The fund will be complemented by specialist business advice from Just Enterprise to help grant recipients maximise the impact of financial support.
To be eligible, interested organisations must be:
- A charity, social enterprise or voluntary organisation based in Scotland and/or primarily delivering services/activities in Scottish communities;
- Already delivering those products or services prior to March 2020;
- In need of funding to stabilise cashflows directly as a result of the impact of COVID-19, as opposed to pre-existing financial difficulties;.
The fund aims to help as many organisations as possible, however, priority is given to those most at risk and that need immediate help.
Kenneth Gibson MSP said:
“The Third Sector is vitally important, never more so than during this crisis.
“These additional funds will mean that organisations will be able to focus on the excellent work they are doing across our communities in response to the pandemic, without worrying about funding.”
TSRF is not a compensation scheme. It is an alternative fund for organisations for whom other UK/Scottish Government Emergency Schemes are not suitable.
Applications can be made right now via:
ENDS
