A significant milestone has been achieved with the Northern Impact Fund 2 securing its final piece of funding, totalling £8.45 million. This fund aims to assist social and community enterprises across the North and the Midlands, fostering sustainable growth.
The Northern Impact Fund 2 follows the success of its predecessor, which supported nearly 200 organisations from 2016 to 2022 with an extensive sum of over £9 million. With flexible funding options, this initiative seeks to stimulate further social impact and economic resilience in the region.
The Northern Impact Fund 2 has proudly announced the acquisition of its final funding piece, amounting to £8.45 million. This substantial contribution was finalised with support from the Mercers’ Charitable Foundation, among others. The fund is designed to offer financial assistance until 2027 to diverse entities such as social and community enterprises, charities, and cooperatives operating in the North and the Midlands.
Matt Smith, CEO of Key Fund, remarked, “The Northern Impact Fund is based on a core long-standing product we’ve been delivering since 2002 and is hugely popular, which is why we have secured another round of funds to invest.”
The organisation has since invested £76.6 million in more than 3,100 organisations, creating an impact worth £483 million. Matt Smith highlighted the growing demand for the Northern Impact Funds due to their simplicity and effectiveness.
Matt Smith stated, “The grant helps de-risk growth, and can be a transformative step-change for a business.”
This approach embodies Key Fund’s mission of providing clear and timely financial support. Matt Smith emphasised the importance of clarity, stating, “It embodies what Key Fund is about, making sure that we are clear and providing the right money at the right time – this is our central mission.”
Key Fund operates across various sectors such as green energy, health and social care, employment, education and training, housing, the arts, and sports and leisure. This diverse focus ensures that the fund can address a wide array of community needs.
With the final piece of funding secured, the Northern Impact Fund 2 is poised to create meaningful and lasting impacts across the North and the Midlands.
The Northern Impact Fund 2’s successful funding acquisition marks a significant step in supporting community and social enterprises in the North and Midlands. This initiative promises transformative growth and sustainable impact for numerous organisations.
With secured funding and a proven model, the Northern Impact Fund 2 is set to continue its vital role in fostering economic resilience and social progress in the region.