March 24, 2020 - 1752 views
A lifeline is being thrown to the charity and voluntary sector after the effects of the recent storms and now the Coronavirus virus have made operating increasingly difficult.
Wales Council for Voluntary Action WCVA are offering emergency fast-track loans to voluntary sector organisations in Wales to help see them through the effects of coronavirus and recent flooding.
In response to this, Social Investment Cymru at WCVA is offering emergency fast-track loans to voluntary sector organisations in Wales to help see them through the worst of the effects.
At the same time, existing loan holders are being offered the option to defer payments for a time.
Emergency fast-track loans
Loans will be tailored to each applicant’s individual needs in terms of amount, term and repayment profile.
Recognising that speed of decision making and speed of availability of funds are paramount, so that organisations can react quickly as events unfold the application process will be kept to bare minimum.
This will mean that the majority of organisations being approved will see money in their bank accounts within 7 days of submitting a completed application.
Eligibility criteria
Incorporated social enterprise or charity based in Wales
Demonstrable effect on cash flow from flooding or Coronavirus
Need to replace assets damaged in flooding
Money can be used for
Supporting cash flow
Purchase of replacement assets
Bridging of receipt of insurance claims
If you’d like to apply for an emergency fast-track loan or amend your existing loan repayments, please contact the SIC team on sic@wcva.cymru or 0300 111 0124
