Those who are eligible to use Crowdfunder may be given a chance to unlock matched funding of up to £10k from Santander’s new Changemaker Fund.
The new fund, www.crowdfunder.co.uk/changemaker, which launches today is open to social enterprises, small charities and community groups helping disadvantaged people in the UK. Eligible projects seeking funds of up to £20,000 and focussed on skills, knowledge and innovation that get the crowd’s backing will receive 50% of their funding requirement from Santander.
This revolutionary partnership not only bridges the gap between traditional and alternative finance but it also paves the way for closer relationships between banks and the crowdfunding sector.
Phil Geraghty, MD of Crowdfunder said: “The new partnership between Crowdfunder and Santander is a key milestone for the crowdfunding industry – opening up powerful networks and opportunities between the banking sector and the next generation of ’changemakers’. It also offers long term economic impacts by supporting social enterprises alongside the immediate benefits of helping people make their great ideas happen.”
Changemaker is part of Santander’s flagship community programme, The Discovery Project, which aims to inspire people to have confidence in the future through projects that build skills, grow knowledge and support innovation. By working together with Crowdfunder on the new fund, Santander aims to enable entrepreneurs and community groups to tackle social challenges and create positive local impact.
Sue Douthwaite, Managing Director of Santander Business Banking, commented: “Our purpose is to help people and businesses prosper and we recognise the important role social enterprises and charities play in helping communities to thrive. With the power of the Crowd, our £200,000 Changemaker Fund will help bring great ideas to life and enable social enterprises and community ventures to grow.”
As well as access to the £200,000 matched funding from Santander, projects will benefit from the Crowdfunding team specialists with education, enterprise and coaching support to unlock the further funds and create lasting impacts in communities across the UK. Further funding will be released in 2017.