CAN Invest, the Social Investment Financial Intermediary (SIFI) arm of CAN, is today launching a new social investment (loan) fund aimed at accelerating positive early intervention impact on communities and individuals in the boroughs of East London.
In partnership with UBS, the ‘Early Intervention’ Fund will provide loans and business support to voluntary, community and social enterprise (VCSE) organisations planning to deliver innovative, demonstrably effective products and services in the ‘early intervention’ space for the benefit of children and young people.
This will also help efforts to redress public funding pressures which are increasingly supporting reactive ‘A&E’ services over longer-term, targeted ‘early action’ activity.
Applications are now open and CAN Invest is keen to hear from organisations delivering impact in East London, with a focus on:
- child welfare and troubled families;
- early years and education;
- training and unemployment for young people
- anti social behaviour, gangs and criminal justice
Each investment is accompanied by wrap around business support. The loan and support are aimed at supporting organisations that are inexperienced in social lending who are seeking to expand their impact or to support them to a sustainable model.
The loans are between £30 – £50k at affordable interest rates that are linked to social outcomes. These will be offered without the requirement of asset collateral.
Investment decisions will be made by an independent Investment Panel, with CAN, UBS and independent members, June O’Sullivan, Chief Executive, London Early Years Foundation and Robert McCulloch-Graham, Corporate Director, Education Social Care and Wellbeing, London Borough Tower Hamlets.
Nick Wright, Managing Director Corporate Responsibility and Community Affairs EMEA, UBS, said:
“Early Intervention is a key principle of UBS’s Community Affairs activity – this funding will ensure far more young people are supported before they reach crisis point- which not only makes good economic sense – but more importantly is better for them.”
Andrew Croft, Chief Executive of CAN, said:
“I’m delighted to announce the launch of CAN’s Early Intervention Fund with support from UBS. CAN have always tried to be at the cutting edge of social developments, from venture philanthropy with CAN Breakthrough, to grant-loan funds with West Lindsey District Council Community Assets Fund, through to this Early Intervention Fund. We look forward to helping organisations to deliver much needed early intervention activity in East London.”
For more information about the CAN ‘Early Intervention’ Fund and to make an application, visit can-invest.org.uk/services/funds-investment/can-early-intervention-fund.