Third Sector Resilience Fund reopens for second phase
The Third Sector Resilience Fund (TSRF) is a £20m emergency fund for charities, community groups, social enterprises and voluntary organisations working in Scotland. The fund supports organisations that already deliver services and products but find themselves in financial difficulties directly as a result of the coronavirus pandemic. The primary intention of the fund is to help third sector organisations to stabilise and manage cash flows over this difficult period.
The Fund is delivered by Firstport, Social Investment Scotland and the Corra Foundation and provides grants up to £75,000. In addition, there is up to a further £5m available in fully flexible, 0% interest loans starting at £50,000. The fund is complemented by specialist business advice from Just Enterprise to help grant recipients maximise the impact of the financial support.
Due to the overwhelming demand for the TSRF, the Scottish Government has announced a second phase to the fund and pledged additional funding.
For Phase 2 of the Third Sector Resilience Fund, the guidance and criteria have been adapted to maximise the number of third sector organisations that benefit from it:
- Applicants must be at risk of or unable to cover essential costs within 12 weeks from the date of application
- The maximum grant amount awarded will be £75,000
- Funding requests must be for a three month period (previously four months)
- Eligible costs will be mostly limited to overheads and essential staff (administrative for example) who cannot be furloughed. Please visit the FAQs section for more detailed information
- All grant applications requesting £50,000 or more will be considered for a loan, a grant or a blended approach (part grant, part loan)
Potential applicants are strongly encouraged to read the fund’s guidance notes and FAQs prior to starting an application. If organisations are unclear whether they meet the revised criteria or would benefit from support to understand their financial position and likely funding requirements, they are advised to contact Just Enterprise, who can work with them to better articulate their funding needs.
In order to apply to TSRF, organisations must complete a short eligibility checker to assess their suitability for the fund. Based on the answers provided, interested applicants will be directed to the correct application form depending on their needs or signposted to other sources of relevant funding/support.
Find out more on the SCVO website.