1. Funding Your Social Enterprise Andy Garrett Fund Manager

2. Kent Community Foundation One of 54 Community Foundations across UK Funding and supporting projects that improve the lives of local people Encouraging local charitable giving and philanthropy Connecting local people who care with causes that matter

3. Kent Community Foundation Has over 10 years’ experience helping thousands of local charities, projects and good causes and has distributed over £15 million

4. What do you need? How much will the enterprise cost to start up and run. How much does the enterprise aim to earn. DRAW UP A MONTHLY CASH FLOW FORECAST - write down your assumptions. Decide what type of funding is best suited to what you are doing A PLAN

5. Matching finance to funding need Secured loan Overdraft Unsecured Loan Patient Capital Returnable grant Equity Grant/ payment Property or asset purchase Working Capital Pre-funding, Fundraising Effort Research & Development Service Delivery « ABILITY TO REPAY » HIGH CHANCE OF REPAYMENT LOW CHANCE OF REPAYMENT

6. Kent Community Foundation Funds The Brook Trust Fund The Phillips Fund

7. Established with initial funding from Kent County Council Aims to support existing and newly created social enterprises in Kent Set up primarily as a recyclable loan fund Must be trading and have clear social purpose and community benefit Majority of profits & assets reinvested in business or social purpose

8. Kent Loans from £10,000 to £100,000 There is a potential for 20% of the total request to be via a grant Most loans are expected to be repaid over 2-5 years Anticipated that loans will be unsecured Must be an incorporated body Must be operating within the KCC administrative area and be using the finance to benefit Kent residents. WE WILL HELP YOU WITH YOUR PLANNING IF YOU WANT IT

9. Why Borrow? A business plan is not fighting against others, it stands on it’s own merit. For a trading enterprise it is far more flexible than a grant. It can prevent mission drift. Knowing that something needs to be repaid focuses the mind. It doesn’t stop you applying for grants, but might reduce your reliance on them. Your future in your hands

10. Example Total request £20,000 split - £16,000 loan £4,000 grant Repayments £333.33pmRepayments £400pm 5 Years Interest 5% flat£4,000 Fee 4% of loan£ 640 APR11.5% 4 Years £3,200 £ 640 12%

12. Thanks for listening 01303 814500 admin@kentcf.org.uk www.kentcf.org.uk