Sporting Capital Fund

Status:  Open to applications

Application Deadline: None


Description

Loan funding is available to a wide range of incorporated organisations based and operating in England to deliver projects using sport and sporting facilities that generate sustainable revenue and deliver long-term community impact.


Details
 
Fund Value: £ 3,000,000
Maximum Value: £ 150,000
Minimum Value: £ 50,000
Value Notes
 

The Fund expects to invest in around 30 projects until June 2020 with the following conditions:

  • Unsecured loans of between £50,000 and £150,000 are available.
  • Loans are repayable over three to five years but, if needed, a repayment holiday of up to 24 months may be available, giving projects time to generate sustainable revenue before starting to repay the loan.
  • The interest rate is between 5% and 10% per annum. The rate of interest will depend on a number of factors including the impact applicants hope to deliver and how risky the investment is.
  • Investments will attract a one-off fee of 2% which will be netted off the investment on day one. For example, if an organisation borrows £100,000, it will receive £98,000 in its bank account on day one, with £2,000 being retained to cover the lending fee.
  • Organisations must start drawing down their loan within six months of receipt.
  • If planning permission is required to deliver a project, it must be granted before a loan can be approved.
 

Extended Description

The Sporting Capital Fund is provided by the Big Lottery Fund and Big Society Capital and administered by Sporting Capital.

Sporting Capital invests in organisations that make a difference by developing people and communities through sport. Funding is provided through loan finance with the aim of supporting and incentivising organisations to become financially sustainable. Its vision is to help to create new, and develop existing, Community Sports Businesses.

Loans are provided to help organisations, either now or in the future, to:

  • Deliver community-based services to meet the needs of local people, either using sport as a tool, or using a community sports setting to deliver services.
  • Have a sustainable business model that generates revenues through trading that support the organisation’s activities.
 

Key Criteria

The Fund will only invest in community organisations that use sport, or a sporting facility, to deliver activities and services that generate sustainable revenue and deliver impact.

Incorporated organisations are eligible to apply including:

  • Companies Limited by Shares.
  • Companies Limited by Guarantee.
  • Community Interest Companies Limited by Shares.
  • Community Interest Companies Limited by Guarantee.
  • Charitable companies.
  • Charitable Incorporated Organisations.
  • Community Benefit Societies.
  • Charitable Community Benefit Societies.
  • Cooperative societies.

To be eligible, applicants must:

  • Be based, and have a project that is based, in England.
  • Have, or want to develop, a business model that delivers sustainable revenue to help them deliver their ambitions and repay our investment.
  • Be an organisation that delivers, or is planning to deliver, community-based services to meet the needs of local people. And these services use sport, or are delivered using a community sports setting.
  • Plan to generate, positive social impact as one of the main purposes of the project.
  • Be a community organisation, social enterprise, charity or profit-with-purpose business and are incorporated, or plan to become incorporated before investment.

Eligible Expenditure

Funding can be to be used for a wide range of projects that use sport, or sporting facilities to benefit local communities.

Examples of eligible expenditure include:

  • Equipment to support revenue streams.
  • Recruitment, training and deployment of staff and volunteers.
  • Equipment to support business functions including finance, project management and governance.
  • Other operating costs.

Organisations must have, or want to develop, a business model that develops sustainable revenue eg investment to support a community café (new revenue stream). This could include café kit and equipment, training deployment of new staff and volunteers, management support to get the café operating and funding towards marketing the new venture.


 

Match Funding Restrictions

Projects will stand a much greater chance of success if most or all of the other funding required has been secured.


Restrictions

The following are not eligible for funding:

  • Charitable trusts.
  • Unincorporated associations.
  • Capital redevelopment, such as a new roof.
  • Individuals.
  • Organisations that advance political or religious objectives.

Application Procedure

Applications can be submitted at any time. It is anticipated that the minimum amount of time from application to investment will be 10 to 12 weeks although most successful applications will take longer.

Guidelines and an online application form are available on the Sporting Capital website.

Applicants will need to register before beginning their application.

Contact Sport Capital for further information.


Addresses and contacts

Application forms may be available to download their website.
 
Contact details:
Funding Team
Sporting Capital 
N201A 
Vox Studios 
1-45 Durham Street 
London 
SE11 5JH
Telephone:
020 3637 8232
Email:
enquiries@sportingcapital.org.uk