Charities in Wales will be able to borrow up to Â£ 300,000 to take over local assets under a new scheme.
The Community Asset Loan Fund (CALF) is funded by the Welsh government and managed by the Welsh Council for Voluntary Action (WCVA). Interested charities were invited to contact WCVA directly.
WCVA said interest rates on repayments could be reduced for charities that pay the actual living wage and have plans to tackle their environmental impact.
As of November 2016, Cynnal Cymru – Sustain Wales has been the official accreditation partner of the Living Wage Foundation in Wales, and over 300 employers have been accredited.
The current rate for Wales is Â£ 9.90. From next April, the statutory minimum wage, set by the UK government, will be Â£ 9.50.
Â£ 5million program
The Â£ 5million scheme will provide loans to charities and other groups who wish to buy or renovate properties for reuse for the community.
The CALF was “designed to reward those who can demonstrate their commitment to tackle poverty or climate change,” WCVA said in a statement.
Interest on loan repayments can be reduced by up to 1% for applicants who are or will become accredited to pay the living wage, as well as for organizations implementing an environmental action plan.
Charities will be able to borrow up to 100% of the total value of the property.
Loans and small grants
Social Investment Cymru, part of WCVA, is working with Cynnal Cymru, a leading sustainability organization in Wales, to deliver the project.
The loans will be combined with small grants available when purchasing an asset, intended to help charities develop and implement an environmental action plan for the management of their new property.
Helping âlong in the futureâ communities
Alun Jones, Head of Cymru Social Investment at WCVA, encouraged charities and social enterprises in Wales to contact his organization and said he hoped “the program will allow groups to continue to make contributions. meaningful to their communities in the future â.
Cymru Social Investment can be emailed to [emailÂ protected].
Jane Hutt, Welsh Government Minister for Social Justice, said: âThe voluntary sector in Wales is a vital part of supporting our communities and I am delighted to see CALF launched during Charity Week. This fund will help communities take ownership of the land and buildings they value most.
âCommunity-owned and operated facilities help achieve our wellness goals to make our cities and towns even better places to live and work, and to integrate our response to the climate and natural emergency into everything we do. we do. “