The first stage of the Social Impact Investment for Sustainability program has been completed. We are now reviewing the program and looking at sourcing more funding, so we are currently not accepting any applications.
The Victorian Government is supporting investment-ready social enterprises to create new jobs and training opportunities, respond to climate change, avoid and recover waste and improve resource efficiency in the Victorian community.
The program provides a combination of grant and low interest loan. Investment-ready social enterprises can apply for up to $200,000 as a combination grant and low interest (2.5%) loan to scale up (expand) their operations.
Funds returned through repaid loans will be reinvested in the program to support other social enterprises. The program will continue until the funding is fully subscribed.
The program is an initiative of the Victorian Government through Sustainability Victoria and developed in collaboration with Foresters Group, a financial services company which specialises in providing loans to individuals, social enterprises and non-profit organisations to improve their financial capacity and resilience.
The Social Impact Investment for Sustainability program is merit-based and involves two stages: an Expression of Interest (EOI), followed by a comprehensive financial assessment to be conducted by Foresters Group. The amount of funding allocated may be negotiated with successful applicants based on the applicant's capacity to repay the loan.
Sustainability Victoria reserves the right to implement a competitive process if the program is oversubscribed.
EOI applications will be collated by Sustainability Victoria for assessment at regular intervals. We expect this will be every three to four months, however, applications may be assessed sooner at the discretion of Sustainability Victoria.