A consortium led by the Adventure Capital Fund (ACF) has been appointed to deliver Communitybuilders, the £70 million government programme which aims "to help build more cohesive, engaged and active communities through investment in community-led organisations looking to develop long term viability".
The Communitybuilders programme is intended to help organisations work towards long-term financial stability and away from grant dependency.
Organisations will be able to apply for loans and grants and have access to expert support and mentoring services.
ACF will be delivering Communitybuilders in partnership with Futurebuilders England and the Community Alliance (Development Trusts Association, bassac and Community Matters), on behalf of Communities and Local Government (CLG) and the Office of the Third Sector (OTS).
ACF has also secured a commitment from Unity Trust Bank to provide up to £40 million match funding for the programme.
Caroline Forster, Communitybuilders Director at ACF, said: "The delivery team combines ACF’s track record as a leading investor in community anchors with Futurebuilders England’s fund management expertise and the Community Alliance's grassroots understanding and support for community organisations."
Communitybuilders will be open for applications later this summer. However, those organisations who wish to register an interest in applying for the fund or would like further information can call 0191 261 5200.