Looking for investment to develop your social venture? Like some support too? Then it’s time to Power Up Scotland with Big Issue Invest Scotland.
Big Issue Invest Scotland wants to ‘power up’ early-stage social ventures across Scotland and help to make them more sustainable. That’s why the Power Up Scotland programme is offering up to £50k loan investment, plus tailored mentoring and support to early stage social ventures.
To apply to Power Up
- Please see the website at https://bigissueinvest.com/powerup/
- Click on ‘Apply Here’ or ‘Investment Enquiry’ to complete a short Expression of Interest form.
- You will be emailed an application form for completion (you can choose to complete an online application or a Word version).
- If you need some help with completing the form or have any questions please contact Big Issue Invest Scotland Manager Michelle Davitt – contact details below.
- Please submit your completed application form by Monday 8th January 2018.
If you would like to discuss Power Up in more detail, talk through your application, or find out more before applying, please contact Michelle Davitt at firstname.lastname@example.org.
Eligibility for Power Up is likely to be as follows:
- Early stage company (proof of concept required, rather than just an idea).
- We will accept pre trading companies.
- We accept all legal structures.
- We have a preference for teams over individuals.
- You need to have a clear social impact to your business.
Terms of Loan
- Up to £50,000 loan investment.
- Drawdown in minimum 2 tranches.
- 3 year convertible loan with interest, accruing at 5% per year, only being repaid in year 2 and 3.
- Repayment of the loan would not be expected until year 3, at which point we will see how best to structure loan repayment moving forward.
- Preferably, we would want to be repaid within 3 years of the maturation of the loan i.e. 5/6 years from time of investment.