News article
Housing Providers Micro Enterprise Project
01/08/2015
Housing Associations' Charitable Trust in partnership with the Community Development Finance Association have announced a second wave of the Start Up Micro enterprise project (SUME).
The SUME project aims to bring together resources from Community Development Finance Institutions, housing associations and social investors the Start Up Loans Company to support residents looking to start up their own businesses. The project aims to create a viable and scalable micro-loan fund that supports residents into self-employment and is currently looking for a group of 8-10 housing providers that wish to set up a micro-loan fund that supports their residents into self-employment. In the SUME project, the Community development finance institution (CDFI) manages a loan fund for the housing provider and that money is matched in double by the Start Up Loans Company to create a local loan fund. The next wave of the pilot project, due to start in Autumn 2015.