This fund aims to support community businesses to raise community shares capital that can support their recovery, pivot or expand the business in response to Covid-19. Grant funding and matched equity investment are available for for up to £5,000.
The ReBoost fund provides grant funding and matched equity investment. ReBoost will support smaller, and quick interventions focused on raising working capital for community businesses via community shares offers between November 2020 and April 2021.
Additional business development support may also be provided where required, and will be prioritised to help community businesses operating in deprived neighbourhoods, or those led by and supporting BAME communities and those led by and supporting disabled people.
The following support is available:
- Development grants – between £3,000 and £5,000 to prepare a recovery community share offe and be awarded the Community Shares Standard Mark. The grant should be approximately 10% of the community share offer target.
- Match equity investment – typically matching pound for pound up to £25,000 invested by the ReBoost fund. The investment is expected to support at least 12 share offers between November 2020 and April 2021.
The application deadlines are 2 December 2020, 6 January 2021, and 3 February 2021.