Homeless Link has announced it is launching a £4.5m social investment fund for charities and social enterprises across England working to reduce homelessness.
The national membership organisation for homelessness and supported housing agencies will invest the money over the next three years, offering homelessness organisations unsecured loans of amounts between £25,000 and £150,000.
The fund aims to increase the homelessness sector’s knowledge and experience of social investment, develop new models for income generation and funding, and improve their long-term sustainability.
The programme is funded by Access - The Foundation for Social Investment, through its Growth Fund, which combines grant from Big Lottery Fund and loan from Big Society Capital.
‘This fund is an exciting initiative, and we hope that the investments will unlock innovative ways of working with people experiencing homelessness, and help to put the recipient organisations on a sustainable footing,’ said Homeless Link's director of strategy and innovation, Mark McPherson.
‘Importantly, the programme will also help feed in to the bigger picture of how different funding mechanisms can work for homelessness services.
‘Social investment is increasingly being explored and used in the non-profit sector, offering a balance of accountability for results, and flexibility around use and repayment.
‘Homeless Link intends to lead the way in understanding the role of social investment in our sector so that we can continue to support our members’ development.’
