The Co-operative Loan Fund is one of three partners involved in the creation of a new fund designed to support communities wanting to raise investment by a community share issue. The Co-operative Community Shares Fund is managed by Co-operative & Community Finance and the initial funds have come from The Co-operative Enterprise Hub. The Co-operative Loan Fund has agreed to provide loan finance if required.
In the last few years there has been a big increase in the use of share issues by Industrial and Provident Societies to raise funds for a range of co-operative ventures including shops, pubs, renewable energy projects and football clubs.
The new fund can improve the chances of a community share issue reaching its target, or it can help the venture to proceed if it doesn’t. It can also be used to provide finance, if needed, before the share issue is concluded.
Details in the latest Co-op Loan Fund newsletter CLF Newsletter July2012