Somerset Coronavirus Recovery Fund for larger groups

Somerset Coronavirus Recovery Fund for larger groups - Blended grants and loans of up to £20,000 to help local groups with a turnover over £250,000 recover from financial difficulty or build a more resilient organisation for the future.

Introduction

Our local charities, community groups and social enterprises have proven themselves to be crucial to the well-being of our communities as we navigate the coronavirus outbreak.

Over the last seven months we have awarded almost £800,000 in grants so you can help the most vulnerable people in our county.

But we know that many of you are now struggling financially or seeking to build greater resilience into your organisation, so this fund has been created to help you rebuild.

How much is now available?

We expect to award around £200,000 in recovery funding between January and the end of March 2021.

The largest amount you can apply for is £20,000. At least 50% will be a loan from the Somerset Social Enterprise Fund offered at 0% interest, usually over a multi-year term

Please note that to be eligible for this funding you must have a form of self-generating income that generate a surplus, therefore enabling you to repay a loan.

What are our current priorities for recovery funding?

Blended grants and loans can be used to fund the core costs of organisations that support people disproportionally affected by coronavirus, but which face financial difficulty as a direct result of the outbreak. You can use this funding to support your cashflow or help you build a more resilient organisation in the future. We will prioritise charities, community groups and social enterprises that:

We will also prioritise groups that:

You must explain in your application:

You will need to support your application with your:

If you don’t have management accounts, a cashflow forecast or a business plan and are unsure how to prepare these, then please get in touch.

Who has been disproportionately impacted by coronavirus?

Please remember that this Fund continues to offer grants within the context of the coronavirus outbreak.

The outbreak has impacted some groups of people more than others. We want to support those who face the biggest challenges.

Nationally we know the elderly, those living in poverty, and Black, Asian and Minority Ethnic (BAME) groups have faced the greatest impacts.

In Somerset we have identified the following groups specifically:

You must explain to us how the people you support are being disproportionately impacted. 

Who can apply?

Due to FAC regulations the Fund is only open to incorporated organisations including:

We expect applicants to have:

We may still be able to support you if you do not have these things in place. Please contact us first before applying and we will discuss the situation.

Note: we do not cover North Somerset or Bath & North East Somerset. If you work in those areas, then please contact Quartet Community Foundation.

There are also Community Foundations in our neighbouring counties of DevonDorset and Wiltshire. If you work in more than one area and are applying to more than one Community Foundation, then please let us know in your application. 

Who can’t apply?

We cannot support individuals directly. We also cannot award a grant to a group that then distributes it to individuals as financial support. This means we cannot contribute to hardship funds.   

We will not support:

How long is the funding for?

Funding is being awarded so local organisations can recover from the impact of the coronavirus crisis.

We expect most of this to be spent within 12 months.

How do I make an application?

Applications should be made via an online application form, which can be accessed below. We’ll use the information in your application to have a conversation with you, which may include requests for additional information.

If you are unable to access the online form, then please contact us and we will support you to make your application in another way.

The form allows you to save draft versions of your application and return to it later (via an email link sent to your inbox).

The form requires you to complete a short series of questions about your group and your work. You will be asked to provide:

If you are unable to provide any of these documents, then please contact us.

Also, if you have letters of support that you think will help us make our decision, then please email these to info@somersetcf.org.uk using the name of your group in the subject line.

How do we make our decisions?

Applications will be considered in mid-January and mid-March. If you are successful, we expect to pay grants within three days.

The panel will consider:

Because of the need to award grants quickly, decisions will be made by staff and trustees from Somerset Community Foundation.

To help us in our decision making we have:

If you have any questions, then please get in touch with us, but be aware that it may take longer than normal to receive a response. You can reach us on info@somersetcf.org.uk or, if that is not possible, 01749 344949.

Apply here


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