Social Investment Business - Cost of Living Fund - Mixed Grant and Loan

What is the Cost of Living Fund?

The Cost of Living Fund (COLF) provides grant funding alongside Recovery Loan Fund (RLF) loans to eligible charities and social enterprises who are supporting people in the 30% most deprived areas of England and delivering products and services to people impacted by the cost-of-living crisis. We determine this by using a measure called the Index of Multiple Deprivation (IMD), which looks at several key factors in the area. You will be able to check if you operate in a qualifying area using our Postcode Checker. Currently the grant is only available to organisations operating in IMD 1-3. 

The fund does not provide standalone grant funding. Organisations can only receive a COLF grant if they are successful in applying for a RLF loan. See our RLF page for further information on the loan. 

Who is it for?

Eligible Charities and social enterprises in England delivering products and services to people impacted by the cost-of-living crisis who are looking to: 

• Continue their existing products or services. 
• Increase the number of people supported. 
• Launch new products or services. 
• Improve the quality or efficiency of products and services. 

The organisation itself may also have been impacted by the cost-of-living crisis. However, the fund is intended to help the organisations better support people impacted by the cost-of-living crisis. The purpose of the fund is not about supporting organisations that have been impacted themselves by inflationary costs.  

Not sure if this fund is for you? Want to talk about your eligibility or any questions you have about the application process? We’re happy to help, just get in touch at: loans@sibgroup.org.uk 

The organisation must be both: 

Eligible for RLF loan, namely: 

• Incorporated voluntary, community or social enterprise organisation*, 
• Constituted for social benefit improving people’s lives or the environments they live, 
• Minimum of two years’ operating activity,  
• Minimum turnover of £400k in the last financial year (or £200k if the organisation is BAME-led** or based in Wales or Scotland) 
• Not subject to any insolvency proceedings, and  
• Viable borrowing proposal.  

Eligible for the COLF grant: 

• Based in England and delivering its social/ environmental impact predominantly in England 
• Supporting people in the 30% most deprived areas of England – we measure this by considering whether the organisation delivers most of its activity in IMD*** 1-3 – see Postcode Checker 
• Looking to maintain, increase, launch or improve products or services to people impacted by the cost-of-living crisis 

See if you operate in a qualifying region with our Postcode Checker. Insert the postcode for where the organisation works with the largest numbers of beneficiaries/ customers. 

See the FAQs below for any ineligible items/ sectors. 

* Must be registered as a Charity, Community Interest Company or Community Benefit Society. If registered as any other legal entity, it must have a social object, asset lock and restriction on profit distribution (must distribute less than 50% of post-tax profits) written into its governing documents.  

**BAME-led = 51% or above of the organisation’s board and senior management team are from Black, Asian and Minority Ethnic communities. 

*** IMD = Index of Multiple Deprivation. In the application we will ask the organisation to provide the postcode for where they work with the largest numbers of beneficiaries/ customers. We use this to calculate IMD. To be eligible for the grant the organisation must deliver the majority of its activity in IMD 1-3. Use the above postcode checker to see if your activity falls in IMD 1-3.