New Delivery Partners Announced Alongside Increased Maximum Loan Term for Resilience and Recovery Loan Fund

16 July 2020

Social Investment Business (SIB) has announced four new delivery partners and an increase in the maximum loan term for the Resilience and Recovery Loan Fund (RRLF).

CAF Venturesome, Resonance, Social Investment Scotland and Wales Council for Voluntary Action are the four new delivery partners who will work alongside SIB as the lender, and existing delivery partners Big Issue Invest, Charity Bank and Social and Sustainable Capital.

The maximum loan term for RRLF has also now increased from three to five years, increasing flexibility for charities and social enterprises - many of whom are facing urgent cash-flow requirements and disruption to their delivery.

To date, RRLF has approved loans from 18 charities and social enterprises, with a total value of over £6m. Charities and social enterprises (with a turnover of between £400K-£45m) can apply for funding of between £100K-£1.5M with key product features being:

  • A minimum 1-year term and a maximum 5-year term
  • Interest-free and fee-free for the first 12 months (in line with CBILS)
  • 12-month capital repayment holiday
  • No early repayment fees
  • For loans of 1-3 years, 6.5% per annum from year 2 (after principal payments start)
  • For loans of >3 years to 5 years: 7.0% per annum from year 2 (after principal payments start)
  • Loans can be used alongside other emergency grant funding programmes from RRLF delivery partners, such as the Social Enterprise Support Fund

RRLF is a £25 million emergency fund, which provides repayable finance to charities and social enterprises improving people’s lives across the UK who have been directly affected by the COVID-19 crisis. The initial £25m has been provided by Big Society Capital.

The flexibility comes because the fund provides access to the Government’s existing Coronavirus Business Interruption Loan Scheme (CBILS). The Coronavirus Business Interruption Loan Scheme, delivered through 60+ British Business Bank accredited lenders, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the COVID-19 outbreak.

Rob Benfield, Director of Enterprise and Development at SIB, said:

"We are delighted to be have four new delivery partners join the Resilience and Recovery Loan Fund, helping us to expand the reach and scale of the Fund further across the UK to help more charities and social enterprises through this challenging time. We also hope that the increase in maximum loan term will add more flexibility for those organisations in need of funding during the pandemic. Although loan finance may not be the right answer for all during the current crisis, we hope it can be part of the solution for some.”

Holger Westphely, Acting Head of CAF Venturesome said:

"We are delighted to be joining the RRLF scheme to help disburse the funds made available by SIB and BSC as widely as possible. It's a great sector-led initiative making the Government's CBILS guarantee more accessible to charities and social enterprises and has already funded a number of good causes.  More initiatives like this will be needed to repair the damage inflicted on the social sector by COVID-19 crisis and to help charities and social enterprises recover, rebuild and adjust their business models to a new environment.  We continue to collaborate with others in the sector to provide more financial and technical support where possible."

Chris Jamieson, Head of Investments at Social Investment Scotland, said: 

We’re delighted to support delivery of the Resilience and Recovery Loan Fund in Scotland, ensuring the fund is used in the mix of financial solutions available to social and third sector organisations. With the newly extended loan term the fund could be a lifeline to some of the organisations we are already working with and we look forward to supporting more Scottish organisations with applications to the fund.”

Daniel Brewer, CEO at Resonance, said: 

“We are pleased to join the delivery partners for the Resilience and Recovery Loan Fund helping more charities and social enterprises access this fund, enabling them to continue to improve the lives of people across the UK at a time when communities need their support even more as a result of the impacts of COVID-19. And whilst this funding may not be for all organisations it will be invaluable as part of a mix of finance options for many. We look forward to supporting eligible organisations through their applications.”

Alun Jones, Head of Social Investment Cymru at WCVA said: 

We’re really pleased to join the Resilience and Recovery Loan Fund as partners, helping to ensure that the fund is accessible throughout Wales. We know this funding is not for everyone but will be very useful in the right circumstances especially given the issues the voluntary sector has faced in accessing some of the other loan schemes. We'd encourage anyone in Wales to get in touch for a discussion on how it might work for them.”

For information on RRLF, including full eligibility criteria and how to apply, please visit the Fund page. RRLF closes at the end of September.


Notes to Editors

About CAF Venturesome

CAF Venturesome is the social investment team at CAF.  We are proud to be part of CAF, a charity helping other charities, supporting them by using philanthropic money specifically given to drive social impact.  CAF Venturesome is one of the most active social investors in the UK.  We are an impact-focused social investment fund supporting social enterprises and charities to sustain and grow their impact.  Since 2002, we have made over 650 social investments totalling £55m+.  Thanks to the support of over 100 philanthropists, corporates and grant-making trusts, we offer affordable social investments from £25k to £400k+.  We work with social organisations across the social enterprise and charitable sector, as well as managing specialist funds supporting community-led housing and early-stage social enterprises.  More information about the work we do, and the amazing organisations we support, is on our blog.

About Resonance

Resonance is one of the UK’s leading social impact investment companies, established in 2002, with a mission to connect capital with social enterprise. Resonance currently has £210m of funds under management across twelve operational social impact investment funds. These funds tackle some of the major societal issues in the UK such as homelessness, poverty and health & wellbeing. Resonance also works in an advisory capacity with ambitious social enterprises, helping them with professional advice on governance, impact and process. In the financial year 2018/19 Resonance mobilised almost £34m of capital into the hands of social enterprises and charities. Resonance are a B Corp, and have offices across the UK, including London, Cornwall, Manchester, Bristol and Birmingham with a team of over 40 supporting social enterprises and the communities they serve. For more information about Resonance visit:

About Social Investment Cymru / WCVA

Part of the WCVA group, Social Investment Cymru is the leading provider of social investment to social enterprises and the wider voluntary sector in Wales. WCVA (Wales Council for Voluntary Action) exists to enable voluntary organisations in Wales to make a bigger difference together. For more information visit, or contact Social Investment Cymru on 0300 111 0124 or email

About Social Investment Scotland

Social Investment Scotland was established in 2001 to provide a new finance model for Scotland’s charities and social enterprises. Since then it has invested over £80m across Scotland. Loan finance via Social Investment Scotland is available from £10,000 to £1.6M and is aimed at community enterprises and social businesses that might find access to finance from mainstream providers difficult. Social Investment Scotland also helps to manage funds on behalf of third parties with any profits being re-invested into social business development in Scotland. Social Investment Scotland currently manages the largest social enterprise fund in Scotland on behalf of the Scottish Government. For more information about Social Investment Scotland, visit: 


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The Social Investment Business is the trading name for the Social Investment Business Foundation, Registered Company No. 05777484 (England), Registered Charity No. 1117185 (England & Wales), The Social Investment Business Limited, Registered in England No. 06490609, VAT No. 927456693, Futurebuilders-England Limited, Registered in England No. 05066676 and Forward Enterprise FM Ltd, Registered in England No.11238102. Registered Office: CAN Mezzanine, Borough, 7-14 Great Dover Street, London, SE1 4YR.

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