Boost for Lancs’ social entrepreneurs
TWO East Lancashire social enterprises that specialise in skills and training have been awarded soft loans worth up to £20,000 to encourage business development.
South West Burnley Community Enterprise and Social Enterprises Consultancy and Training, based in Accrington, have both received loans of up to £10,000 from Lancashire County Council’s economic development unit.
The loans have been awarded through the council’s Business Investment Deals (BID) programme, part of the government-funded No Limits scheme which aims to stimulate enterprise in deprived Pennine communities.
The BID programme offers soft loans of up to £10,000 to social enterprises that bring their clients or carers into the No Limits programme. Up to 80% of the loan can be repaid in the form of referrals or outputs and 20% in cash.
The council’s deputy leader Doreen Pollitt said: “It is local community organisations and social enterprises such as these that make a great deal of difference to people’s lives. We believe that everybody matters in Lancashire and we applaud the organisations that demonstrate this.
“This clever financing solution helps the social enterprises to repay the majority of the loan back by delivering more services to the community.”
No Limits is a partnership which includes Lancashire County Council, the local authorities of Blackburn with Darwen, Burnley, Hyndburn and Pendle as well as Burnley Football Club, Accrington Stanley and Blackburn Rovers Football Club.
It has secured an initial £30m of government funding to regenerate the Pennine Lancashire economy by supporting new and growing businesses, creating up to 13,000 jobs and 4,000 companies over the next decade.
