Over a year after closing applications for our Community Finance Resilience Fund (CFRF), we’re proud to share that £6.45 million of funding has been approved for community finance organisations, with just a few more to complete in the next couple of months.
The fund received an overwhelming 71 applications and was launched to support community finance providers with the rising operational costs amid the cost-of-living crisis. Our goal was to strengthen the sector’s resilience and expand access to affordable credit for people in financially vulnerable circumstances across England.
Funding deployed quickly to meet urgent needs
To date, two thirds of grant recipients have already received part or all of their funding, with larger grants typically being paid in two instalments. The funding has been made up of 44 grants, 9 Expression of Interest projects and 2 subordinated debt applications.
When everything is finalised we expect to have committed a total of between £7-8 million, supporting even more organisations. So far we have paid out nearly £4 million of our commitment to 44 different organisations.
These grants are helping providers tackle pressing challenges, including unexpected staffing costs and critical technology upgrades, while also supporting innovative projects. Proposals have included:
- Partnerships with Housing Associations
- Loan guarantee schemes
- Initiatives to boost youth savings and engagement
Many of these projects have the potential to scale nationally, offering turnkey solutions that other organisations can replicate. Over the coming year, we’ll highlight these success stories as they develop and deliver measurable impact.
What’s next? Independent evaluation to measure impact
We’ve appointed Ecorys as the programme’s independent evaluator. Their role will be to assess both the effectiveness of the funding process and more importantly the real-world difference it makes for community lenders and borrowers. This evaluation will help shape future programmes and demonstrate the fund’s value to stakeholders. The monitoring and evaluation work has begun and will run throughout this year and into Quarter 1 2026.
A Thank You to all applicants
Finally, we’d like to extend our gratitude to every organisation that applied and worked with us throughout the process. Your dedication to supporting your members, especially those in financially vulnerable circumstances is what makes this sector so important.
We’ll be sharing further updates in the coming months as we continue to distribute funding and share the inspiring work made possible by the Community Finance Resilience Fund.
