Up to $200,000 is available from Social Impact Investment for Sustainability Program to help social enterprises to expand their operations and deliver new solutions to environmental problems.
Social Impact Investment for Sustainability Program
The Social Impact Investment for Sustainability Program provides financial assistance to existing, investment-ready social enterprises and is designed to create new jobs and training opportunities, deliver social benefits, respond to climate change, avoid and recover waste, and improve resource efficiency in the Victorian community.
Background
Social Impact Investment for Sustainability is an initiative of the Victorian Government through Sustainability Victoria and developed in partnership with Foresters Group, a financial services company which specialises in providing innovative loans to individuals, social enterprises and nonprofit organisations to improve their financial capacity and resilience.
The Victorian Government is committed to helping the Victorian community respond to climate change. Through the Social Impact Investment for Sustainability program the Victorian Government is helping communities develop practical, local action on climate change, resource efficiency and waste. The program will help create local jobs and training opportunities, consistent with the Government’s Back to Work Plan, while delivering social and environmental benefits for the Victorian community.
Funding
Investment-ready social enterprises can apply for up to $200,000 as a combination grant and low interest (2.5%) loan to scale up (expand) their operations.
Eligibility
To be eligible for funding, applicants must:
- be a social enterprise as defined by Sustainability Victoria
- have a current Australian Business Number (ABN)
- have been operating for at least one year
- create new jobs and/or training opportunities in Victoria
- provide social benefits within Victoria
- deliver on one or more of the following environmental outcomes of an ongoing nature across part of the Victorian community or economy (not a one-off activity or project for one organisation, small group or individual):
- a new product or service to assist communities to respond to climate change
- improved resource efficiency (energy or materials)
- reduced priority waste to landfill – by recovering resources or avoiding waste
- increased use of renewable energy
- have not had any Environment Protection Authority (EPA) or Victorian WorkCover Authority violations in the past five years, or any such breaches deemed acceptable by Sustainability Victoria
- complete the grant funded initiative within 12 months of signing a funding agreement
- repay the loan component within three to five years
- implement the funded activities in Victoria
- agree to comply with Sustainability Victoria’s Terms of Participation and Foresters Group’s Terms and Conditions.
Timing
Applications open on an ongoing basis.
