Sustainable Employment Loan Fund - SELF.

Access to capital is one of the biggest barriers to growth for social enterprise. We’re determined to bridge the gap between purpose-driven businesses and social impact investors with the development of a new $5 million loan fund.

The Sustainable Employment Loan Fund (SELF), a patient capital fund has been designed to give jobs-focused social enterprises access to low-cost finance to grow their businesses and create more jobs for disadvantaged Australians.

Loan sizes will range from $100,000 to $500,000 with a focus on lending that can enable job creation for people who face barriers to employment, while also strengthening the financial resilience of the social enterprise.

Westpac Foundation, a major advocate for jobs-focused social enterprise, will provide $500,000 to support the establishment of the fund. A further $1 million in first capital loss will also be committed once White Box raises $4 million.

The SELF is based on successful examples of similar funds in Australia (now defunct) and overseas. White Box will work alongside other catalytical impact investors to build the pool of funding that will be available for social enterprises and entrepreneurs. The fund aims to provide finance on flexible terms at affordable rates for social enterprises whilst also paying investor returns.

For more information on the Sustainable Employment Loan Fund, contact Mark Daniels. (mark@whiteboxenterprises.com.au)