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Big Issue Invest Update

16 December 2008

As part of the response to the social crisis caused by the current financial turmoil, Big Issue Invest, part of The Big Issue group of companies, be providing loan finance from £50,000 to £250,000 to meet shorter-term cash-flow or longer term investment needs.

They are also able to offer royalty structures that allow them to make investments that are normally associated with equity financing. For organisations bidding on public sector contracts, it can provide financing up to £8 million and the financial backing to help win contracts. Typically partners have been trading for three years and have a turnover of over £250,000, and will be social enterprises or registered charties.

The Big Issue is a founding partner in the Spark programme. This ground breaking initiative was established last year by Big Issue Invest, the Trees Group, Eastside Consulting and the Department for Communities and Local Government in partnership with BT, Pricewaterhouse-Coopers and Places for People. This year Spark provided £800,000 in both investment and business support to fifteen social enterprises, including housing associations, homeless user groups, advice centres, business support centres, that are giving homeless and vulnerably housed people the opportunity to gain new skills and experience so they can get back into work and regain control of their lives.

Spark has recently received £2.5 million in new funding from DCLG and will be seeking bids from December 10, 2008. For more details visit www.sparkchallenge.org <http://www.sparkchallenge.org/> .

Dave Miller from Bikeworks, which trained3,000 people last year, said the £75,000 it received from Spark was crucial.“ We take referralsfrom homeless organisations and train themas cycle mechanics and trainers, and theycome out with a qualification. Spark has been key to us growing from avery small organization to one that can achievebig things.”

We are keen to hear from social enterprises and income-generating activities of registered charities needing investment. For details, see www.bigissueinvest.co.uk <http://www.bigissueinvest.co.uk> or call Becki Spurdle on 020 7173 6027.