The Lloyds Bank Foundation for England and Wales launched two new funding programmes at an event this week, attended by funding groups, sector leaders and over 90 charities. The two new funding programmes – Invest and Enable - are open to applicants and will focus on reaching young people and adults facing multiple disadvantage at key stages in their lives.
A responsive and flexible grant maker
With funding cuts affecting many charities and demand for services continuing to increase, the Foundation’s new funding programmes will provide larger grants over a longer period of time. The Foundation will also concentrate on achieving lasting and meaningful results by supporting charities to build capacity and champion their work by helping them to grow and develop.
- Invest – providing long term funding of core costs and delivery for charities for up to £25,000 per year for up to three years, with the opportunity for continuation funding for a further period of up to six years.
- Enable – providing funding for smaller, shorter grants for charities with a clear development need. Grants up to a total of £15,000 are awarded for a maximum of two years.
- Enhance – A programme working alongside the Invest or Enable programme providing an option of tailored in-kind support to strengthen and develop charities’ effectiveness.
Achieving positive, lasting change
Paul Streets, chief executive of the Lloyds Bank Foundation, said, “There is an increasing need and focus on helping charities to become sustainable in this challenging funding environment. Through research, we discovered nearly a third of our applicants said that over 80% of their funding was restricted*. We don’t want to be just a grant maker, we want to support charities through a journey of development and help them meet the need for their services. By working with charities on the ground this will help to improve the impact and quality of what we do and achieve positive, lasting change.”
A secure and sustainable grant making approach
The Foundation receives its funding from Lloyds Banking Group through a nine year rolling funding agreement, providing a secure and sustainable approach to grant making. Last year the Foundation awarded £19million to 828 charities across England and Wales.
Owen Woodley, Managing Director of Lloyds Bank, Retail, said: "Lloyds Banking Group plays a key role in helping Britain prosper, and has made seven separate and significant public commitments to address some of the big issues facing Britain today. One measure of our success in driving prosperity includes a commitment that we will invest over £100m across the Foundations by 2020. We are incredibly proud of the work undertaken by each of the Foundations and very much look forward to continuing to build upon the very warm relationships we have with each of them."
The new funding programmes are now open to applicants through an online application process. To find out more information, visit www.lloydsbankfoundation.org.uk.