Lloyds Bank Foundation for England & Wales and The Big Lottery Fund have today (20 June 2017) announced a new funding pilot that will see small charities receive greater financial support for their work in local communities.
Both funders share an ambition to support and strengthen small and local charities and are keen to work in partnership and test new ways of working together that will facilitate more income into small charities without any further administrative burden on the charities part.
22 small and local charities across England who have been awarded grants totalling £1.4m by Lloyds Bank Foundation as part of its Invest programme, were offered a share of additional funding worth almost £400,000 from The Big Lottery Fund without the need for further time consuming grant applications or subsequent monitoring processes.
By co-funding grants, the funders hope to help strengthen small charities struggling in today’s economic environment and support them to reach more people in need in their local communities. The additional funding from The Big Lottery Fund came as a welcome addition to the charities and was offered to help them bridge further funding gaps they had identified through their ongoing relationship with their Lloyds Bank Foundation regional Grant Managers.
Paul Streets OBE, Chief Executive of Lloyds Bank Foundation for England and Wales, said:
“Small charities play a critical but often unseen role in local communities, supporting people often pushed to the fringes of society. But small charities are facing unprecedented pressures from funding cuts and with growing demand for their services, many are struggling to stay afloat. As funders, we have a collective duty to believe in those charities that are making a difference on the ground by reducing administrative burden and doing whatever we can to see these charities better supported. By working together, Lloyds Bank Foundation and The Big Lottery Fund will facilitate more money towards small and local charities and strengthen this sector. At a time when too many small charities are at risk, we hope we can demonstrate to other funders, Government and larger charities that by working together we can better help to secure the knowledge, expertise and essential public services that small charities offer our communities.”
Dawn Austwick, Chief Executive, Big Lottery Fund added:
“We are delighted to be developing this funding partnership with Lloyds Bank Foundation for England and Wales. By sharing resources we hope to make the funding process easier for small local charities who play such a vital role in civic life. It’s thanks to National Lottery players that we are able to take part in partnerships that allow us to maximise the impact of our funding.”
Project John, a charity that supports young homeless people in Barrow, Cumbria was awarded a £75,000 grant from Lloyds Bank Foundation and additional funding worth £45,000 from the Big Lottery Fund. Nicola Kell, Manager at the charity added:
“We’re grateful to Lloyds Bank Foundation for our recent grant. We’ve recently developed a new hub in Barrow, meaning we can offer young, homeless people a one stop shop where they can come and receive support and advice on housing options, training or even debt management. The funding from Lloyds gives us much needed financial stability for the first time and means we can begin to expand the range of services on offer. Getting funding for our core costs is one thing, the additional £45,000 we received from the Big Lottery Fund was icing on the cake. It will cover the costs of a new youth worker we can now employ, who will be tasked with delivering drop in support and activities at the centre. Over the coming year, we hope to support at least 2,000 young people at the Hub. We wouldn’t have been able to anticipate reaching so many people in desperate need without this support.”
Following this initial pilot, Lloyds Bank Foundation and the Big Lottery Fund are considering further options for joint working to continue growing support for and investing in small and local charities.