Marketing sector publication Ethical Marketing News has highlighted how The Architectural Heritage Fund (AHF) – ‘the specialist lender to the UK’s heritage projects’ – has launched its new £7m social investment fund to enable organisations to deliver economic and social impact from the re-use of the UK’s heritage buildings.
Ethical Marketing News writes:
The Heritage Impact Fund is a partnership, the first of its kind, with contributions from the AHF (£1.42m), the National Lottery Heritage Fund (£2.25m), Historic England (£800k), Historic Environment Scotland (£427k) and Cadw (£100k). Additionally, Rathbone Greenbank Investments will provide investment management and loan facilities…
The Heritage Impact Fund offers tailored loan finance for charities, social enterprises and community businesses across the UK seeking to acquire, reuse or redevelop buildings of historical or architectural importance. These buildings may be listed, in a conservation area, or may be of special significance to the community. Loan amounts will be up to £500,000 per project with a maximum three-year term…
As well as helping deliver projects that support the sustainability of historic buildings, the Heritage Impact Fund will support organisations with a clear social mission seeking to deliver demonstrable local economic and community impact…
For the first time, the AHF will also be able to provide assistance to borrowers with evaluating and assessing the impact of their projects. The Heritage Impact Fund will also offer incentivised rates for projects that deliver significant economic or social impact, or which can be expanded upon as a result of the AHF’s assistance. Impact will naturally vary from project to project but it is expected to include new job creation, the creation of training and volunteering opportunities and the restoration and re-use of heritage buildings for a variety of commercial and community uses.
Alongside the Fund, the AHF is launching a new business support service – RePlan – that will provide access to pro bono expertise, expert advice and guidance to those organisations that would benefit from targeted capacity building support, assistance with business transformation, transition or expansion. Based on AHF’s experience of when projects need most support, RePlan will be particularly targeted at organisations completing a capital project or looking to build upon or scale-up their existing enterprises…
- Further information on the Heritage Impact Fund application process, criteria for applying and the terms of the loan are available from the AHF Investment Team on 020 7925 0199 or via the website on ahfund.org.uk/hif
