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The Recovery Loan Fund for BAME Led Organisations

Receive a loan of between £50k and £1.5m, up to 100% grant match funding on loans secured, support through the application process and follow-on business support.

The Recovery Loan Fund supports organisations that are improving people’s lives, or the environment they live in. The Ubele Initiative’s partnership with the Social Investment Business (SIB) and Access – the Foundation for Social Investment is making loans more accessible for charities and social enterprises led by people from Black and Minoritised Ethnic (BAME) communities.  

The Recovery Loan fund offers loans of up to £1.5m to charities and social enterprises. In addition to a loan, BAME led organisations will receive: 

  • Personalised support to apply to the Recovery Loan Fund 

  • Unrestricted grants of up to 100% of the loan value (capped at £200k) 

  • Bespoke business support once finance has been secured 


To be eligible to apply for the Recovery Loan Fund and receive additional support as a BAME led organisation, the following criteria apply: 

  • Charity or social enterprise 

  • At least 51% of Board and Senior Leadership Team from BAME communities 

  • Above £200k turnover 

  • Applying for a loan of between £50k and £1.5m 

  • Operating for more than 2 years 

  • Operating in England 


How to Apply 

The Recovery Loan Fund is open for applications until 11.59pm on Wednesday 30th June 2024. 

Organisations that intend to access additional support as a BAME led organisation should select “Ubele Initiative” as the partner they would like to assess their application on their application form, or contact for more information. 

All details on the Recovery Loan Fund, including full eligibility criteria, FAQs and application form can be found on: 

Additional support is being made available alongside the Recovery Loan Fund to address historical imbalances in the access to finance that affect Black and Minoritised Ethnic led organisations. 

The recent Reforming Social Enterprise report from the Adebowale Commission highlighted that structural barriers prevent Black-led social enterprises accessing social investment and debt-based finance. SIB’s analysis of data on over 4,000 organisations in its diversity dashboard found that and BAME led organisations tend to be smaller in size and less likely to access loan finance. In response to these findings, a partnership between SIB, Access, The Ubele Initiative and Create Equity has been formed to offer to additional support to BAME led organisations. 

SIB operate the Recovery Loan Fund, providing loans of up to £1.5m to eligible organisations. Access, through their Flexible Finance programme, have made £2m in grant match funding available to organisations accessing loans from the Recovery Loan Fund. The Ubele Initiative and Create Equity are the delivery partners, bringing their networks, expertise and understanding to the project, and provide support to organisations throughout the funding application and assessment process.

We will be holding two live info sessions on the Recovery Loan Fund in December and January.

For details and to register, please visit:

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