Charities and voluntary groups leading the fightback against coronavirus (Covid-19) can now access two financial support funds launched today (Monday 6 April) by the Isle of Wight Council.
The Third Sector Lifeline (TSL) and the Community Essential Shopping and Delivery (CESD) funds have been set up to get money out to where it’s needed as quickly as possible.
By providing loans and grants to charities and voluntary groups delivering essential services to Island communities, the council aims to keep them on a sound financial footing.
Council leader, Councillor Dave Stewart, said: “We have seen from our colleagues in the voluntary sector an unprecedented response to the Covid-19 threat.
“However, we know some are struggling to maintain their operational costs and deliver the additional work to support the Island.
“They are supporting some of our most vulnerable residents so we in turn must do all that we can to support them.
“These ‘lifeline’ loans and grants, accessible through these two new funds, will ensure the voluntary sector continues to thrive now and after the crisis.”
The TSL fund offers loans of up to £30,000 to help not-for-profit organisations and community interest companies ‘bridge the gap’ while they wait for government funding through schemes such as furlough.
The fund also offers grant aid to help towards operating costs incurred by charities working on the Covid-19 frontline.
Through the new CESD fund, the council aims to support the army of volunteers delivering essential shopping and medical supplies to vulnerable Islanders.
This fund of up to £5,000 is being made available to community groups in the form of loans and grants to enable them to support residents by advancing monies to pay for and deliver essential shopping.
Residents will be expected to repay the costs of the shopping to the community group.
For more information about the funds, including eligibility and how to apply, visit www.iow.gov.uk/covid_19communityfunding