Substance are working with leading community sports business agency, Sporting Assets to deliver a new fund, called Sporting Capital.
Sporting Capital is the first social investment fund in England that focuses specifically on organisations and projects that help to develop communities through sport and physical activity. It is run by Sporting Assets and funded by the Access Foundation.
Substance are the fund’s social impact partner, helping those organisations who receive investment, demonstrate the impact they make with it.
If you are interested in accessing this investment funding, read on…
What Does Sporting Capital fund?
The £3m Sporting Capital Fund provides loan funding of between £50,000 and £150,000 to eligible organisations.
It expects to make around 30 to 50 investments by June 2020.
The loan funding will be used to help organisations develop new projects, operations and revenue streams. The goal is to help develop more sustainable community sports organisations.
Whilst every organisation’s needs will differ, it is expected that the funding to be used for projects and activities such as:
- Equipment to support revenue streams
- Recruitment, training and deployment of staff and volunteers
- Equipment to support business functions, including finance, project management and governance
- Other operating costs
Each investment will be tailored to the organisation. Loans will be repayable over 3 to 5 years and a repayment holiday of up to 24 months will be available, giving projects time to generate sustainable revenue before starting to repay the loan.
Social Impact
All projects will have to demonstrate that they are more sustainable and that they deliver significant social impact from the investment in the following areas:
- Community cohesion
- Healthy and well being
- Education and employment
- Volunteering
Who will be funded?
Sporting Capital can invest in a wide range of organisations and projects across England. And if you need support to get ready to take on repayable investment, you may be eligible for grant funding to pay for this.
Our website has details of specific eligibility criteria and availability of grant funding.
Case Study: First Investment Confirmed!
Sporting Capital’s first approved investment is Cycle Pathway CIC, who operate Leeds Urban Bike Park, an exciting redevelopment of a local authority owned golf course into a cycling hub that meets the needs of the local community and wider region.
The project aims to create a community facility that delivers a range of social impacts based around a community cycling hub in an urban environment. It will:
- Increase local opportunities for physical and social activity;
- Develop employment and volunteering opportunities through community café, trail building and training centre project; and
- Provide alternative education services for young people through the Youth Offender Service and local pupil referral units
The facility has been funded by Leeds City Council, British Cycling and Sport England.
Substance are working with the Bike park to:
- Develop a Theory of Change of what they hope to achieve and how
- Develop an Impact Framework to enable them to demonstrate impact
- Provide access to Substance’s Views impact measurement software
Investment from Sporting Capital will support Cycle Pathway to develop the revenue generating services, enabling them to take on additional full and part time staff and fund kit and equipment for the community café and workshop.
Contact
The Sporting Capital Fund is actively looking for investments. Contact us:
Email: enquiries@sportingcapital.org.uk
Tel: 0203 637 8232
Web: www.sportingcapital.org.uk
OR contact Substance and we will forward your enquiry.
About Sporting Capital
Sporting Capital has been formed through a pioneering partnership between Sporting Assets and the Access Foundation and is funded through the Big Lottery Fund and Big Society Capital.
Substance, a leading social research company, are providing social impact measurement services for the programme.
Sporting Assets is a leading sports and social investment advisor with the mission to grow a resilient and impactful community sports sector. It supports organisations to deliver sustainable community businesses with a focus on sport by helping them to take ownership of facilities, develop new ones or create or diversify revenue streams.
Find out more at www.sportingassets.co.uk
Access – The Foundation for Social Investment exists to bridge the gap between charities and social enterprises and social investors. They provide simple and affordable investment charities and social enterprises need, and provide funding to support charities and social enterprises to get ready to take on investment.
The Big Lottery Fund is the largest funder of community activity in the UK, putting people in the lead to improve their lives and communities, often through small, local projects. The money invested comes from the UK National Lottery.
Big Society Capital is a financial institution with a social mission, set up to build the social investment market in the UK.
Substance is a leading research and technology company, helping organisations that do good, think smarter.
