Charities and, social enterprises in disadvantaged areas facing financial hardship and disruption to their trading due to the coronavirus will be able to apply for emergency funding from a £100 million programme of loans and investment.
The emergency package is made up of a £25 million Resilience and Recovery Loan Fund to provide emergency loans with no fees or interest for the first twelve months; £29 million for smaller, emergency loans to small businesses in more deprived areas; and up to a further £50 million over the coming months for existing and future investments as needed.
Applications to the Resilience and Recovery Loan Fund are expected to open in mid-April, with the first loans completed by the start of May.
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