With support from the Greater London Authority, Big Issue Invest has launched a new £10 million fund to finance the provision of new affordable housing in London. We aim to invest the funds into community organisations, social enterprises, charities and smaller housing associations, helping them to renovate empty homes or buildings and convert them into good quality affordable housing for Londoners to rent or part buy.
The fund offers loans of between £50,000 and £2 million to qualifying applicants at competitive rates and flexible terms. We will consider any proposal from the social sector which creates affordable housing. Exact terms will vary slightly with each proposition, but in practice, we will aim to offer a fixed interest rate. The funds may be used to purchase or refurbish properties and may also be used to pay for professional fees. We are particularly interested in projects that create apprenticeships and job opportunities for people in London.
In celebrating our recent 10th anniversary, we are pleased to be launching a £10 million fund to help transform empty homes into good quality low cost housing. We are also excited about providing long term unemployed people, veterans and out of work young people from across London with the opportunity for employment and training in construction.
If you would like to apply for investment of between £50,000 and £2 million to help create affordable housing in London, please write to email@example.com.