With support from the Greater London Authority, Big Issue Invest has launched a new £10 million fund to finance the provision of new affordable housing in London. They aim to invest the funds into community organisations, social enterprises, charities and smaller housing associations, helping them to renovate empty homes or buildings and convert them into good quality affordable housing for Londoners to rent or part buy.
The fund offers loans of between £50,000 and £2 million to qualifying applicants at competitive rates and flexible terms. They will consider any proposal from the social sector which creates affordable housing. Exact terms will vary slightly with each proposition, but in practice, they will aim to offer a fixed interest rate. The funds may be used to purchase or refurbish properties and may also be used to pay for professional fees. They are particularly interested in projects that create apprenticeships and job opportunities for people in London.
If you would like to apply for investment of between £50,000 and £2 million to help create affordable housing in London, please write to firstname.lastname@example.org.