Resilient Scotland Makes First Investment

Resilient Scotland Makes First Investment
Foundation Scotland
28.03.13

Resilient Scotland Ltd announces its first investment packages worth £120,000 to two social enterprises based in Greenock and Edinburgh.

Thanks to the unique combination of grant and loan package offered by Resilient’s Start & Grow. The innovative, social enterprise Stepwell based in Greenock can expand its current food outlet to provide a sit-in café offering healthy home made food and drinks.  This will result in more employment opportunities for local people whilst encouraging people to live healthier lives.
 
Having acquired an Edinburgh Council swimming pool The Himalayan Centre, Edinburgh hopes to create a purpose built hall for cultural and social events, a meeting room and licensed café/restaurant.  The investment from Start & Grow will help the centre develop a commercial kitchen and restaurant facilities.
 
Start & Grow Fund is the first community regeneration funding programme run by the Resilient Scotland’s JESSICA (Scotland) Trust.  It offers a combination of grant and loan packages up to £60,000 to organisations working to bring economic, social and environmental benefits to the eligible communities through various types of enterprise activity.  The communities must be from one of the 13 designated local authority areas1 that have been identified as most challenged by economic circumstance and most in need of additional regeneration.
 
Ella Simpson, Resilient Scotland Ltd, Chair said “ We launched Start and Grow last year to help community organisations looking for creative investment solutions.    Our aim is to invest and help build the capacity of enterprising community led organisations that will have lasting impact in their areas.  Our first investments do just this, by investing in local businesses, which can create employment opportunities and ultimately support their local economy.”
 
Resilient Scotland comes from JESSICA (Scotland) Trust, a £15 million independent Trust Fund established by Foundation Scotland (formerly Scottish Community Foundation) with an endowment from the BIG Lottery Fund. It is designed to help stimulate growth in disadvantaged communities most affected by serious economic decline and market failure, helping them to become stronger and more sustainable through their own efforts.
 
The work of the Trust is being managed by Foundation Scotland who report to the Board of Resilient Scotland Ltd corporate trustees for the Fund.