Big Society Capital
The Prime Minister, David Cameron, has launched a £600 million fund to finance grassroots social projects run by charities and community groups.
Big Society Capital will support social enterprises that can prove they are able to repay an investment through the income they generate.
£400 million from dormant bank accounts will be used to finance the scheme, with the remaining £200 million coming from Britain’s four largest high street banks - HSBC, RBS, Barclays and Lloyds.
So far, the fund has agreed investments worth £3.6 million in five schemes. These include the Community Generation Fund, which supports the development of renewable energy infrastructure, and Franchising Works, which trains unemployed people to run a franchise business.
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