The Social Investment Business announce availability of £16m Capital Funding Package through the Department of Health's Social Enterprise Investment Fund (SEIF)

The Social Investment Business today announced a capital funding programme worth £16m to support social enterprises in health and social care looking for grant funding to help with capital costs, such as the purchase or refurbishment of a property or an upgrade to their IT or purchase equipment.

Capital grants of between £100,000- £450,000 are now available from the Department of Health's Social Enterprise Investment Fund and are open to health and social care social enterprises who have been established at least 12 months.

Applications will be accessible from the website: www.socialinvestmentbusiness.org/grants or by contacting one of the investment team on 0191 269 2276.

The grants are time limited with a deadline of 19 February for postal applications and 21 February for those applying online.

Organisations must be able to utilise any award immediately.

Sue Peters, managing director of Investments at The Social Investment Business, said: "We had an amazing response to our revenue grants offer in November last year with over 1,000 applications for funding. Feedback from investees, both current and potential, highlighted that there is a demand for grants to help towards the cost of capital purchases."

The Social Enterprise Investment Fund is a £100m Department of Health fund managed by The Social Investment Business in partnership with Partnerships UK to support the delivery of innovative health and social care services and products by social enterprises.

To date, the Fund has invested over £20m in approximately 200 organisations.

For a full list of other products available through SEIF, please visit our website for details www.dh.gov.uk/seif

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