**Please note , this fund is now closed**
The Community Asset Development Fund (CADF) supported social businesses aiming to bring an asset into community ownership – either by;
- purchasing the asset
- purchasing and renovating the asset
- renovating an existing asset that is not in full use
- equipping an asset
The type of asset can vary from social/sports clubs, community halls, community hubs, community pubs etc.
Successful applicants were required to demonstrate how the funded activity would create a positive shift in social impact as well as a positive shift in income generation.
CADF was part funded by the European Regional Development Fund and Welsh Government, and was the next strand of investments administered by Social Investment Cymru.
Decision making process
The information relating to each application was collated and presented to the panel who decided which projects to fund.
Organisations could apply for up to £150,000 in West Wales and the Valleys (WWV) and £100,000 in East Wales (EW). Match funding of at least 40% in WWV and 50% in EW was required. For example, to access £150,000 of funding in WWV required £100,000 of additional match funding.
CADF is 40% grant and 60% repayable assistance. How much would be repaid is dependent on how much the organisation’s income increases.
What’s the application process?
There was a two-stage application process. The first stage was an ‘Eligibility Questionnaire’ which checked eligibility. Successful applicants would move to the second stage which was the Financial Assistance Application, where the viability of the proposal is tested. It also measured how the proposed activity will deliver against the Wellbeing Goals associated to the Wellbeing of Future Generations Act.
Organisations that wishing to submit an EQ needed to register on MAP. Prior to that a discussion with the Social Investment Cymru team was essential.
What’s the structure?
The structure of financial assistance available was:
- 40% traditional grant
- 60% repayable assistance (0% interest, maximum of 10 years of repayment starting in year 3)
The structure of the fund is 12 years in total, with a 2-year repayment holiday at the beginning of the project. During these 2 years we expect organisations to evidence a positive shift both in social impact and income generation.
Of the repayable assistance, your success in increasing income will determine how much you repay up to a maximum of 60% of the award.
Telephone: 0300 111 0124