Fund lending phase extended to January 2018
Seedbed is delighted to inform you that the Cabinet Office has agreed to extend the active lending phase of the Seedbed Loan Fund to January 2018.
This means that we will be able to accept completed applications to the Loan Fund until 31st January 2018, or until the funds have been exhausted – whichever date is earlier.
This timescale does also apply to the Seedbed Equity Fund.
We know some of you have already received loans or are currently working with your coaches or with Tony on your Loan fund applications.
For those of you still thinking about applying for a Seedbed loan or considering investment possibilities for your enterprise, please get in touch with me or Dave to discuss your needs and requirements.
The Seedbed Fund and Programme remains open for new applications as well. If you are aware of any social ventures in your networks that are looking for investment please signpost them to Dave or myself. We will be happy to discuss how Seedbed can help with their requirements.
To recap, the key terms for the funds are:
The Seedbed Loan Fund
This Fund provides loans investments of up to £50,000. Seedbed loans are designed to be accessible and affordable. Typically the finance terms are:
- No arrangement/ management/ early exit fees,
- 6% interest APR,
- Up to 6 months capital repayment holiday
- Repayment period up to 5 years.
To access the Seedbed loans ventures will need to be a legally constituted organisation/ venture. Our loans are unsecured, but may require additional guarantees/ commitments. Exact terms & conditions will be agreed on a case by case basis. The loan fund is managed by South West Investment Group.
The Seedbed Equity Fund
This fund provides early stage equity for social ventures of up to £25,000. To access the equity fund ventures will need to be an incorporated organisation with a legal constitution that allows for this type of investment. This fund is managed by Dartington Hall Trust and the Seedbed team will be happy to provide further information upon request.