The UK-social investment firm’s Community Investment Enterprise Facility will be used to capitalize lenders so they can make loans to individuals and businesses in underserved UK communities.
Social Investment Scotland, one of the largest community development finance institutions (CDFI) in the UK, will manage the fund, which will invest in five CDFIs. Big Society Capital is looking to raise £30 million ($41.7 million) in match funding in the next three years.
The social impact bank has helped mobilize £1 billion in investment capital to charities and social enterprises across the UK, committing over £350 million itself.
