Bank of Scotland Foundation launches financial vulnerability grant programme for Scottish charities
The Bank of Scotland Foundation has launched its Invest grant programme today, which is a multi-year programme for charities helping vulnerable people manage various financial issues.
The fund aims to help charities that were already facing significant difficulties with their finances before the pandemic, and those who are now accessing charity support services for the first time as a direct result of the pandemic.
Any charity with an annual income of between £100,000 and £1m who has projects addressing financial vulnerability, is eligible to apply.
Charities can apply for core cost funding, and/or project cost funding, of between £20,000 and £40,000 per year for between 2 and 5 years. For example, this could be towards:
- Traditional financial support services provided by Citizen’s Advice Bureau’s and Money Advice Centres.
- Projects to improve financial literacy for people who are living on low incomes and /or requiring debt management support.
- Financial awareness and money advice services for people with illnesses and long-term conditions (including Mental Health) and their families.
- More tailored financial advice targeted towards vulnerable groups within their communities.
- Support for issues around fuel and/or food poverty and/or budgeting and maximising income to ensure people are not at risk of homelessness.
Charities have until 12 noon Thursday 1 April 2021 to submit applications through the Foundation’s website.
Philip Grant, chair of the Foundation’s Board of Trustees and Chair of the Scottish Executive Committee, Lloyds Banking Group, said: “We are delighted to launch Invest for a second year with the new theme of Financial Vulnerability for 2021.
“Our multi-year funding provides charities with long term security and will help them to address the financial challenges that many people are facing across Scotland right now.”