Big Issue Invest, in partnership with the Greater London Authority, has launched the BII London Housing Fund. The fund will invest £10m as loan finance with the objective of creating 300 affordable homes in London over 10 years, whilst also creating work and training opportunities.
Big Issue Invest is looking to invest in a variety of innovative projects ranging from social sector organisations renovating empty properties to Community Land Trusts and Housing Associations constructing new homes. The fund is actively seeking applications from interested organisations and are interested in hearing from organisations that need early stage finance through to project development finance (either as sole lender or providing the final funds needed to complete a project).
Big Issue Invest is a specialist provider of finance to social enterprises. It provides investment from £50,000 to £3 million and develops innovative financial solutions which help organisations tackle poverty and create opportunity. Since 2005 Big Issue Invest has invested £30m across the UK in 300 social ventures.
For more information about the Housing Fund or to apply for finance please email LondonHousingFund@bigissueinvest.com or visit http://bigissueinvest.com/housing-fund/