The Barclays Community Finance Fund, part of the organisation’s commitment to supporting financial inclusion, is open for applications for 2012.
Barclays has invested £1m in the fund to help UK credit unions and community development finance institutions (CDFIs), increasing their capacity to provide safe, fair and affordable loans to people who would otherwise be forced to use expensive credit products or even illegal loans.
Credit unions and CDFIs can apply for grants of up to £50,000.
Applications should include proposals to:
- Develop innovative new products and services
- Increase operational efficiency
- Increase the scale of operations or services
- Support services in areas where the need for affordable credit can be demonstrated
- Improve the sustainability of services
- Leverage new freedoms from the Legislative Reform Act.
Submissions should consider how they benefit from additional non-financial support from Barclays. This can include mentoring and coaching by Barclays employees, or establishing relationships with their local Barclays branch.
The deadline for applications is 1 April 2012.