|Fund:||Adventure Capital Fund (ACF)|
First investment: £132,400 (grant) & £198,600 (loan)
Second investment: £10,000 (grant) & £15,000 (loan)
|When:||2008 & 2011|
|How the money was used:||
In 2008 Bootstrap found itself in a very tight financial position. A difficult trading history, unforeseen expenditure and high monthly bank charges from a commercial lender motivated them to apply to the Adventure Capital Fund to sustain their activities.
Established in 1977, Bootstrap Company is a charitable social enterprise that is committed to alleviating poverty in Dalston, Hackney.
Bootstrap’s core business is providing workspace to a diverse mix of tenants, supporting them to start up and grow. From bakers and brewers in the Bootyard to film studios and music producers across its 3 buildings; Bootstrap boasts an eclectic mix of tenants.
Bootstrap provides support for tenants to be socially enterprising and grow into sustainable businesses, contributing to the wider community. Bootstrap hosts enterprise and employability training, including the ‘Enterprise Bootcamp’ programme which is designed to support young entrepreneurs as they take their first steps towards running their own business.
How we helped
Bootstrap applied to us back when we were know as the Adventure Capital Fund. We were able to provide both grant and loan funding to help them get back on track. This money was used to help with refurbishment works, pay creditors and provide some much needed working capital.
We were also able to provide a second wave of grant and loan to cover the costs of repairing the flat roof of the Print House and the purchase of an inflatable roof cover. This transformed the space into a community allotment garden.
What was the outcome?
Following investment, a lot of hard work and a favourable re-negotiation with their bank, Bootstrap found itself in a much more a stable position. Bootstrap was able to evolve its garden space into Dalston Roof Park - a popular rooftop venue with a bar and a stage that has played host to Rudimental, Basement Jaxx and Disclosure!
"Social investment has allowed Bootstrap to not only host a multitude of events over the past 5 years to raise money for the charity, but Dalston Roof Park is now a recognised community event space that will continue to support local causes in Hackney."
Matthew Tull, Events & Communications Officer, Bootstrap
In 2016 alone Dalston Roof Park hosted over 110 events, launched 10 new social enterprises and businesses and raised over £9,000 for 14 different causes. As well as making over £40,000 on the door alone - all of which goes towards supporting Bootstrap’s charitable aims.