A charity backed by Natwest has announced a £1m fund to help social enterprises survive the coronavirus crisis.
The funding – which aims to ease the income gap being suffered by many charitable organisations – has come as recent research suggests that, on average, charities are expecting a 24% loss to their total income in the year ahead.
NatWest Group CEO Alison Rose said: “Many social enterprises, community businesses and charities that form an integral part of our local communities have unfortunately seen their incomes affected by the ongoing pandemic.
“These grants from Social & Community Capital will help champion the vital work that these businesses and charities do, so that they can continue to make a difference to those that need it most.”
Megan Peat, CEO at Social & Community Capital, said: “We know that people and families rely on the great work of local charities and community businesses, but we know that no one has been left unaffected by this devastating pandemic.
“This is why we want to help those organisations that employ people from vulnerable or disadvantaged groups and who have suffered a loss of trading income with our grants so that they can continue to have a positive impact in their communities.”
Applications to the fund opened this week, with information and application forms available at www.natwest.com/scc.