Funding news

All Futurebuilders Funding Programmes now closed - 28 January 2010

The Social Investment Business is closing the Futurebuilders Fund to new applicants after awarding all of its funds.

Jonathan Lewis, chief executive of Social Investment Business, which runs the fund, said the organisation would consider reopening it when it began to receive repayments on existing loans.

"We've made long-term commitments over the next 10 years," he said. "However, the National Audit Office considers that the original money lent out could net returns of £400m.

"At some point in the future, and we don't know when yet, we should be in a position to reopen the fund."

Since it was established in 2004, Futurebuilders has made investments in more than 370 third sector organisations to help them win public sector contracts and the Social Investment Business has been receiving £60-90m worth of enquiries over recent months.

For the full article go to: www.thirdsector.co.uk.