(2) on what date each organisation in receipt of a grant from the Social Enterprise Investment Fund (a) applied for and (b) received its grant;
(3) how much funding his Department has assigned to the Social Enterprise Investment Fund for (a) 2008-09 and (b) 2009-10;
(4) what criteria are used to assess applications to his Department's Social Enterprise Investment Fund.
The allocations for the Social Enterprise Investment Fund (SEIF) are as follows.
Revenue (£ million) (Revenue includes fund manager costs) Capital (£ million) 2008-09 8.534 11 2009-10 9.294 26
The criteria used to assess applications are published on the Department's website, and are as follows:
you have to be a social enterprise according to the Government definition—“a business with primarily social objectives whose surpluses are principally invested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners”;
your proposed services have to deliver health and/or social care outcomes;
the ultimate beneficiaries of your proposal must be based in England;
you have to be unable to secure funding from a commercial bank;
you must be able to repay the investment and be able to show how you plan to do so; and
your proposal must help meet the aims of SEIF.
The organisations that have received investment from the SEIF are in a table which has been placed in the Library.
To date in 2009-10 the following organisations have been beneficiaries of the SEIF from Social Investment Business
Organisation Business development grant Revenue grant Revenue loan Capital loan Destiny Support — 4,000.00 — — MiLife UK CIC — — 50,000.00 — Deep Green Care Community 10,250.00 — — — Eagle Recruitment Centre — 10,000.00 — 40,000.00 Paul Lambden (East Lanes PCT) 12,000.00 — — — DeCoda — — 115,000.00 — Caleb CIC — — 50,000.00 234,571.27