GOOD causes could benefit from a blend of grants and loans of £25,000 to £100,000 from the Somerset Social Enterprise Fund (SSEF).

The funding packages are to support local organisations such as charities and social enterprises that both deliver benefit to society as well as generate financial returns.

The SSEF, which is delivered by Somerset Community Foundation, was established in 2014 with initial funding from the county council.

Now it has been given additional finance from the Growth Fund, which is designed to help charities and social enterprises start, develop and grow by funding financially sustainable business models.

Somerset Community Foundation CEO Justin Sargent said: “The Growth Fund is enabling us to offer a broader blend of funding to enterprising social-purpose organisations through our Somerset Social Enterprise Fund.

“There is a growing interest among local charities and social enterprises in adopting business models designed to become financially self-sustaining, and we are very keen to hear from any groups or individuals who have a great idea they’d like to get off the ground or an existing project they’d like to grow.”

The Growth Fund is managed by Access – the Foundation for Social Investment in partnership with the Big Lottery Fund and Big Society Capital.

Seb Elsworth, chief executive of Access said: “We are delighted to be helping Somerset Community Foundation offer a more flexible range of blended loan and grants to charities and social enterprises across the county.

“The Growth Fund aims to make social investment more accessible and Somerset Community Foundation’s long standing role in supporting the sector means that they are ideally placed to do just that.”

Cllr David Hall, deputy leader of Somerset County Council, said it was “fantastic news”.

“The grants and loans can help organisations set themselves up as sustainable businesses or allow them to expand the great work they do to support local communities.

“The county council helped the Somerset Community Foundation set up the Social Enterprise Fund three years ago and I am so pleased that it has gone from strength to strength to support charities and social enterprises to continue their work for the benefit of Somerset people.”

Somerset Community Foundation is also involved in programmes designed to help organisations develop their business plans and work towards enhancing social investment.

Details are available at www.somersetcf. org.uk.