Asda Community Capital

Asda Community Capital, a fund set up in partnership between SIS and Asda, and which uses proceeds from the Scottish Government’s 5p single use carrier bag charge, has lent more than £1million in small loans to communities across Scotland.

Alastair Davis, CEO, Social Investment Scotland, said: “We’re absolutely delighted to have the passed the £1m mark for Asda Community Capital. The fund has been instrumental in supporting local groups across Scotland who were struggling to gain access to capital through traditional routes. By offering loans free from interest payments for the first year, these organisations have been able to focus their energy on increasing local community impacts and making a real difference to people’s lives. Not only that, but we have been able to help these charities and social enterprises become more financially sustainable, allowing them to stand on their own two feet. The future of the fund looks bright, we are continuing to work with Asda and all money raised through interest is now being reinvested in more good causes.”

http://www.socialinvestmentscotland.com/looking-for-investment/our-funds/

 

 

 

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