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Foresters Community Finance was today named as an appointed fund manager for the Australian Government’s Social Enterprise Development and Investment Fund (SEDIF).
Officially launching the SEDIF program, Minister for Employment Participation, Kate Ellis, announced $6 million has been awarded to Foresters Community Finance with a further $6 million to be provided by Foresters’ investment partner Christian Super Fund.
Foresters will use the allocated funding to create financial products and capacity improving initiatives for social enterprises nationwide. This will be delivered through our Social Enterprise Solutions program.
CEO of Foresters Community Finance, Belinda Drew advised the organisation was excited to be a part of the SEDIF initiative.
“This program is an unprecedented initiative for Australia with significant scope for changing the social impact investment market."
“For those of us committed to aiding social enterprises and making them sustainable and investment attractive, this is a very exciting time. The SEDIF program will undoubtedly be transformative, allowing social enterprises to access capital and business expertise at a greater scale than previously seen in Australia.”
Social Enterprise Finance Australia (SEFA) has also received funding to establish the SEFA Loan Fund, with a further $10 million being invested by individual and corporate investors.
Foresters will soon welcome applications from social enterprises interested in benefiting from the program. Contact us for program updates.
09 August 2011 |
