Social enterprises in the money thanks to Resilient Scotand

Woodwork

​Two good causes get grants and loans

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27th October 2014 by Graham Martin 0 Comments

Glasgow based social enterprises The Galgael Trust and ng2 have received investment, totalling £500,000 from Resilient Scotland.

The cash the groups will receive will be in the form of grants and loans.

GalGael will create a new timber business, which will allow them to generate additional income, provide new training opportunities from those disengaged from the labour market.

We hope that their success will inspire similar organisations to approach us for investment solutions

Programme director Gehan Macleod said: ”Resilient’s investment is the catalyst to help us create a financially sustainable organisation. 

“We will be able to create a sustainable income stream, reduce our reliance on grant income and maximise our social impact."

Meanwhile, ng2 will seek to build the organisation and develop new contract opportunities which will help fund community regeneration activities.

Margaret Thomson, chair of ng2, said: “We are delighted that Resilient Scotland is supporting new community based social enterprises like ng2. With Resilient Scotland’s investment, ng2 will be able to grow as a business and increase the range of services it provides for people in north Glasgow.”

Resilient Scotland is committed to growing the social enterprise sector across 13 local authority areas and it has now invested £1.4 million since early 2013.

Through investment packages, it aims to provide community organisations with capital, giving them the opportunity to operate on a more enterprising and sustainable footing.

Chris Holloway, head of Resilient Scotland, said: “Our aim is to empower communities to promote their own regeneration. These latest investments in ng2 and Galgael will improve their financial sustainability and in turn help them play a pivotal role in the regeneration of two of Glasgow’s most deprived areas.  

“We hope that their success will inspire similar organisations to approach us for investment solutions.”