Agreement on social investment reached | Northwest Deals
Two organizations in the North West have entered into a social investment agreement.
The Lake District Calvert Trust (LDCT) has entered into a social investment agreement with the Francis C Scott Charitable Trust (FCSCT).
The deal will see the Cumbria-based FCSCT invest £300,000 of repayable funding into the trust. Funds are available immediately and will be repaid over several years.
Social investment is the provision of funding to charities and other social organizations to generate a social return.
FCSCT’s new venture will allow them to work with more organizations supporting people in difficult circumstances across Cumbria and North Lancashire.
Giles Mounsey-Heysham, Chairman of the Trustees of LDCT, said: “The fundraising climate remains extremely challenging, so we are very grateful to the Francis C Scott Charitable Trust for their support.
“While their investment is fully repaid, it leaves the trust in a more secure position financially. It will also create social benefits and improve the lives of our beneficiaries.”
Peter Redhead, FCSCT Board Chair, added: “Providing affordable social finance means we can expand our ability to positively support organizations working with people in difficult circumstances. We have a long history of supporting the Calvert Trust and the life-changing impact they have.”