Ethos Public Relations Manchester

Unique fund is music to the ears in Hexham

by Ethos public relations

A Hexham community music business which creates a space for people of all ages and abilities to create, play, learn, record and buy music has received a second loan payment from The Social Enterprise Loan Fund (TSELF) to continue its work.

Core Music, which develops people’s music knowledge and skills – including those with physical and learning disabilities - has received an additional £10,000 on top of £20,000 it received in December 2008.

The Community Interest Company will use the money to purchase new and improved stock which will help them to continue organising and running music lessons, workshops, events, demonstrations and master classes.

Director of Core Music, Mike Coleman, said: “TSELF previously provided us with a loan so that we could purchase start up stock for a new retail outlet. That loan was invaluable to us and this second one will be just as well received and used to help us help more people. The money will go towards new quality stock which will further increase the enjoyment of everyone who comes to Core Music.”

Rod Jones, regional director for TSELF, said: “We are delighted to be able to continue our relationship with Core Music CIC. We have seen how the first loan helped them grow and provide a great opportunity to the community in Hexham and beyond - including those who may have been otherwise excluded. We hope this second loan helps them just as much.”

TSELF provides loans to social enterprises and charities ranging from £15,000 to £250,000 and would encourage any social enterprises looking for loans to contact them.

The Social Enterprise Loan Fund (TSELF) is a Community Development Finance Institution (CDFI) and a registered charity aiming to support social enterprises engaged in social regeneration projects with the provision of loan finance.

TSELF has, to date, invested £8million in social enterprises across the UK, helping clients to generate job opportunities as well as training places.

For further information about CORE Music visit www.coremusic.co.uk or call 01434 601993.

To find out more about TSELF visit www.tself.org.uk or call 020 7680 1028.

Posted at 10^th September 2010