The Third Sector Resilience Fund (TSRF) is part of a £350m support package for the sector as a response to the Coronavirus pandemic.
TSRF will support charities, voluntary organisations and social enterprises across the third sector who are at risk of closure due to a sharp decrease in income or that are unable to deliver their services during this difficult period. The fund will distribute £20m of emergency funds over the coming months.
TSRF is specifically targeted at charities, voluntary organisations, social enterprises and other third sector organisations that are based in Scotland and/or primarily delivering services/activities in Scottish communities, but that find themselves in financial difficulties directly as a result of the Coronavirus pandemic. The funding’s primary intention is to help these organisations to stabilise and manage cashflow over this difficult period.
TSRF is delivered by Firstport, Social Investment Scotland and Corra Foundation and provides grants between £5,000 and £100,000. In addition, there is up to a further £5m available in fully flexible, 0% interest loans starting at £50,000.
- (Grants) Up to £25,000 will be supported by Corra Foundation
- (Grants) £25,000 – £100,000 will be supported by Firstport
- (Loans) £50,000 and above will be supported by Social Investment Scotland
In some circumstances a mix of grant and loan funding may be the most appropriate. In such cases organisations will be directed to work with one lead organisation to apply for a mix of grant and loan. This approach helps ensure that vital funds benefit the maximum number of organisations possible.
The response to the Coronavirus pandemic is a fluid situation and a number of emergency funds and support schemes have become available to organisations struggling during this time. We expect interested applicants to have spoken to their current funders to discuss how existing funding can be used during this period, as well as considered whether other UK Government or Scottish Government COVID19 emergency schemes are more suitable. We strongly encourage you to assess all the schemes available to your organisation and only apply to the Third Sector Resilience Fund if this is the most appropriate for your individual circumstances.
If you are unsure, you might find it helpful to speak to your treasurer, a business advisor or the person who usually helps you with the organisation’s finances.
Step one: Applicants should complete the eligibility checker, which will determine whether their organisation meets the criteria for funding. The checker will also ask about the level of support required in order to connect you to the appropriate next stage in the process.
Step two: If the organisation is eligible, applicants will be asked to complete a brief application form. This will ask for more details about the organisation structure and size, and the additional financial challenges expected as a result of the pandemic. In the application form you will be asked about your current financial position including cashflow, restricted funding and reserves. It will be important that you have this information available. You will also be asked to provide supporting documents – your most recent annual accounts and bank statement(s).
Grant application forms will also ask applicants to provide bank details to enable payments to be made as quickly as possible. We will use the uploaded copy of your most recent bank statement to verify these details.
In some circumstances we may need to contact you to discuss your application so please ensure the contact details you provide are for someone who is able to do this.
Step three: You will receive an automatic email acknowledging receipt of your application. We aim to assess all applications within 10 working days, and issue a decision as soon as possible.
Step four: You will receive an email advising you of the decision. If you are successful, the payments will be made direct to the bank account given in the application form.
Due to the nature of this support, if you are successful you will not be expected to spend valuable time and resources on lengthy reporting.
At a later date, depending on the level of funding an organisation has accessed, Firstport, Social Investment Scotland or the Corra Foundation will be in touch to request brief updates on how the organisation is doing. Confirmation will be sought that your organisation is still in operation and you may be asked for specific details such as number of staff in employment or monthly income levels.