T: 0800 464 0797 E: investment@firstark.com

Roadshow FAQs

Roadshow FAQs

Can we consider other social investments within the ‘basket of funds’?

We hope to have a range of funds available to support social investment during 2017 and beyond.  We will also act as an Access Point for the Reach Fund, providing a grant to provide pre-investment support and to provide investment readiness to the organisation.  We want to be open about funds available for social investment, our £4m Growth Fund (Invest for Impact) also provides pre-investment and post-investment support to the investment proposal, a wrap-around service.

In terms of APR, we will be clear about how this affects your organisation the actual repayment and how it fits with your cash-flow.

What is the Capital Repayment Free Period?

You can request up to one year as a capital repayment free period and would only repay the interest during the first year, or over the period requested.  School projects requested could we consider planning the repayment for 2 months each year over 5 years instead.  This was agreed and this would be built into loan agreement.

Can the grant pay for the salary of a worker to develop the growth of the business?

Yes, the enabling grant can help you to get you where you need to be to develop and grow the business.

Do you have to do social accounting?

It is not required.  Social accounts also need to be audited and must produce an evidence trail and provide a comprehensive record of activities.

We do provide a Social Impact Statement to support each investment proposal.  We use the NEF/HACT model which uses fixed costs, evidence reduction that value has been added and measures real impact.  The social value ‘quantifier’ can put a monetary value using impact and facts.  We don’t say you have to deliver x amount of social impact but to sustain the same amount or an improved impact.

Do you fund both start-up and scale-up?

All organisations must provide 2-3 years of accounts.  If a start-up/day 1 – you will not be suitable for the Invest for Impact fund, but possible future funds may be available.

Reach fund – new potential fund, support grant of £15k, to support expressions of interest seeking investment but are required to put other mechanisms in place to prepare for being investment ready for a larger investment.

Does the fund offer flexibility in terms of paying back, like a Student loan?

A repayment holiday is available up to 12 months to build into paying back the capital

What APR will I be charged?

In terms of APR, we will be clear about how this affects your organisation the actual repayment and how it fits with your cash-flow. We take a risk based approach and assess many aspects of your organisation to determine what APR is to be charged. You will be informed of what APR is to be charged prior to approval.

We provide quotes detailing the APR interest rates and payment details in a standard way so you can compare against other quotes.

Would you support ‘gap’ funding or be a collaborative match funder?

We would be open to discuss a wide range of opportunities including matched funding.

How long will the social investment be available for?

We are already talking to 40+ organisations, we expected the fund to be allocated with the next year or so.  Investment processes and procedures move quite quickly with Investment panels meeting on a bi-monthly basis.  If approved, the funds are normally with you within the month.

Does your basket of funds support social impact bonds?

We could consider a wide range of options including profit share arrangements, using security, assets or consider commercial mortgage arrangements.

What are the eligible legal structures for the fund?

The fund is investment support for social businesses, voluntary organisations and charities across the North West.  This includes community interest companies, company limited by guarantee, charity, company limited by shares (if mission locked and 51% is reinvested to deliver social impact)

 

Do you provide support in discussing 1-1 ideas?

Yes, we need you to complete an Expression of Interest online.  You will then be contacted by a member of the team to assess what support is required. We are currently dealing with organisations on a first come first served basis.

 

Still need help? Call 0800 464 0797

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