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Two London organisations get £100,000 from CAN's fund for early intervention.

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Two London organisations get £100,000 from CAN's fund for early intervention.

Brighter Environment CIC and Big Creative Training have both been granted loans of £50,000.

These two organisations, though very different in their operations, both work to provide young people with opportunities that improve their career progression and employment prospects.  

Brighter Environment is a Facilities Management social enterprise that employs NEET young people in contract cleaning, grounds maintenance and security for both corporate and third sector organisations. The other successful organisation, Big Creative Training, work with 16 – 19 year olds to educate them and develop their skills in the creative industries, delivering high-quality courses in subjects such as Games Design, Music Production, and Events Management.

Big Creative Training received a one-off payment of £50,000 from the Early Intervention Fund, to be paid back over 2 years at 4% interest rate. Brighter Environment CIC have been awarded £50,000 in two £25,000 tranches at a 4% interest rate over 4 years. The loans are the first in 2016 from the Early Intervention Fund, delivered by CAN Invest in partnership with UBS. The fund secured match funding from Funding London in 2015, which allows organisations to apply for a loan from £5,000 to £100,000.

The Early Intervention Fund was also extended geographically, which will help organisations in all of the following boroughs: City of London; HackneyTower HamletsNewhamWaltham ForestRedbridgeBarking and DagenhamHaveringLewishamGreenwichBexley; Hammersmith and Fulham; Ealing; Brent; Enfield and Haringey.

 

Here is what they had to say:

Adam Porter-Blake, Chairman of Brighter Environment CIC said:

“Since Brighter Environment incorporated in 2013, we have directed our resources in developing our social impact, due diligence and business planning. During this time, we have gained some important customers and built a reputation for a responsive and high service standard. Our focal point for the next three years is developing our sales and marketing. We needed an investment partner that was able to understand our requirements and help nurture our presence in the City of London and surrounding boroughs. The loan provided by the Early Intervention Fund has empowered us to take the next step in our growth.”

 

 Alexis Michaelides, Managing Director of Big Creative Training said:

“The loan from CAN Invest is a significant boost to Big Creative Training at an important time for us as an organisation and education provider. The loan is supporting our ambitions to develop a team of support workers to provide crucial 1-1 support to BCT students who have significant additional learning and social needs who are able to achieve their full potential through the fantastic specialist support and care that this team can provide. In addition the loan is facilitating the growth in BCT apprenticeships as we strive to respond to employer demand for our creative apprentices.”

Find out more about the EI fund from CAN. 

Category: Invest