Ethos Public Relations Manchester

Unique funding boosts Greater Manchester social enterprise network

by Ethos public relations

Together Works, the social enterprise network for Greater Manchester, is promoting social enterprise as a business model to more start-ups and providing increased business support services to social enterprises across the region, thanks to financial support from a unique loan fund.

A recently awarded loan of £50,000 from The Social Enterprise Loan Fund (TSELF) will help Together Works Community Interest Company manage cashflow and operate efficiently, delivering effective services to and with the social enterprise sector.

Paul Halfpenny, one of the Directors of Together Works, said: “Together Works is delighted to be working with the Social Enterprise Loan Fund.

“Having to cashflow all of our activities for the past few months has been difficult. However, now thanks to our loan from TSELF, we have been able to focus on our business aims rather than having to spend a lot of time and energy trying to wrestle our cashflow.”

Together Works promotes social enterprise as a business model across the region and works to develop a strong, independent and cohesive social economy in Greater Manchester that delivers outstanding financial, social and environmental benefits to communities.

Paul added: “We are truly grateful for the superb support we have received from TSELF.

“Our aim is to maximise access for new and established social enterprises to high quality, affordable support services and thanks to the funding from TSELF, we are able to do just that!”

Roy White, North West Regional Director at TSELF, said: “We are delighted to be able to help Together Works in this way. The organisation offers something very important to the Greater Manchester region and we are thrilled to have been able to provide this loan.

“TSELF provides loans to social enterprises and charities ranging from £3,000 to £250,000. We are here to help, so we would encourage any social enterprises looking for loans, to contact us.”

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 Together Works, visit www.togetherworks.org.uk or call 0161 273 3237.

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

To read other news from The Social Enterprise Loan Fund click here.

Posted at 19^th July 2011