Barclays have committed £1m through its Barclays Community Finance Fund to support the development of the affordable credit sector. Transact is managing this fund on behalf of Barclays. Grants were made to six organisations in 2010/11 and a further five in 2011/12. Two further funding rounds will run for 2013 and 2014.
Barclays Fund
The next funding round is now open.
The closing date to receive applications is the 1 April 2012.
The objectives of the Barclays Community Finance Fund are:
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To improve access to affordable credit to those people on low incomes and living in areas where the need for affordable credit can be demonstrated
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To increase the existing community finance providers’ capacity to deliver affordable credit to low income consumers and microenterprises or SMEs unable to receive credit elsewhere
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To provide financial support to credit unions and CDFIs that are starting up, merging or forming partnerships in areas where public access to affordable credit is restricted
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To support the organisations funded in developing and improving their business services through encouraging voluntary participation by Barclays staff
Projects are funded over 12 months to develop and continue work to increase access to affordable credit.
For more information on how to apply please follow the 2012 link on the left of this page.
