Useful links
CDFI sector resources
Below is a list useful resources and organisations relavent to the Community Finance sector:
Anti Money Laundering
Most CDFIs, as providers of credit, will have to comply with Anti Money Laundering procedures. The FSA and OFT website provides some guidance on compliance. The CDFA will be running a course later in the year on Money Laundering, email Corrine at c.thompson@cdfa.org.uk for more details.
BIS: the Department for Business, Innovation and Skills
The government department responsible for small business and enterprise policy. The Enterprise Directorate at BIS, CDFA’s core funder, works across Whitehall, the Regional Development Agencies and key delivery partners to ensure that Government – national, regional and local – understands and responds to the needs of entrepreneurs and small businesses.
http://www.bis.gov.uk/
Charity Commission
Some CDFIs are registered charities. The Commission provides guidance on how to register to become a charity, the benefits of being a charity, reporting requirements and charitable objectives.
http://www.charity-commission.gov.uk/
Clearly So
Socialinvestments.com is a place for social businesses to display information about their ongoing activities and recent news, a place for investors to find information about social investment opportunities, and for the general public to learn more about this thriving sector.
www.socialinvestments.com
Community Investment Tax Relief
The CITR scheme encourages investment in disadvantaged communities by giving tax relief to investors who back businesses and other enterprises in less advantaged areas by investing in accredited community development finance institutions (CDFIs). The tax relief is available to individuals and companies, and is worth up to 25% of the value of the investment in the CDFI. The relief is spread over five years, starting with the year in which the investment is made.
http://www.hmrc.gov.uk/specialist/citc_guidance.htm
Consumer Credit Act
The Office for Fair Trading issue guidance on consumer credit licensing. Most CDFIs hold a consumer credit licence. The CDFA will be running a course on Consumer Credit issues later in the year. Email Corrine at C.thompson@cdfa.org.uk for more details.
http://www.oft.gov.uk/about-the-oft/legal-powers/legal/cca/
Cultural Social Enterprise
Cultural Social Enterprise is a national trading network for social enterprises and those that wish to trade with them. It provides a set of tools for effective social trading.
http://www.seco.org.uk/socialenterprise
Department for Work and Pensions (DWP)
UK financial inclusion policy is coordinated by the Department for Work and Pensions. The department administers the Growth Fund, which is designed to expand the reach of non-profit lenders offering affordable personal loans.
http://www.dwp.gov.uk/
Enterprise Finance Guarantee
An interim government-guaranteed lending scheme, replacing the Small Firms Loan Guarantee. It is intended to help smaller businesses who may be struggling to secure finance by facilitating bank loans of between £1,000 and £1 million. The scheme aims to help credit-worthy companies which might otherwise not be able to access the finance they need for working capital or investment finance due to the current tight lending conditions.
http://www.bis.gov.uk/policies/enterprise-and-business-support/access-to-finance/enterprise-finance-guarantee
Fair Finance Consortium
The consortium contains a group of seven CDFIs that lend throughout the West Midlands.
http://www.fair-finance.net
National Federation of Enterprise Agencies
NFEA is a network of independent, but not for profit, Local Enterprise Agencies committed to responding to the needs of small and growing businesses by providing an appropriate range of quality services.
www.nfea.com
National Housing Federation
The National Housing Federation is the body that represents the independent social housing sector. It has around 1300 non-profit housing organisations currently in its membership, owning or managing around 2 million homes between them.
www.housing.org.uk
RISE
RISE is the voice for South West social enterprise and supports the development of sustainable social enterprises in the region. RISE is a membership organisation open to anyone interested in the social enterprise agenda in South West England. RISE runs a Business Advice Network to facilitate learning and information sharing between social enterprise advisors and general business advisors.
www.rise-sw.co.uk
South West Business Finance
South West Business Finance is a partnership of agencies in the South West of England who are working together to support businesses across the region that need to raise more finance than the bank is able to lend for start-up and growth.
www.southwestbusinessfinance.co.uk
Start Up News
Business Startup Community is part of the Prysm Group based in Bristol. Our aim is to empower, inform and encourage entrepreneurs in their journey to business success.
www.startupcommunity.co.uk
UK Social Investment Forum (UKSIF)
UKSIF promotes and encourages socially responsible investment in the UK. Socially responsible investment includes ethical investment, green investment, shareholder activism, social banking and community finance.
www.uksif.org
