Go Salary
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Fundraising

Social Enterprise Development Fund Managers Named


Wednesday, 10th August 2011 at 2:56 pm
Lina Caneva
The Federal Government has announced the fund managers who will establish new banking and financial services for social enterprises in Australia.

Wednesday, 10th August 2011
at 2:56 pm
Lina Caneva


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Social Enterprise Development Fund Managers Named
Wednesday, 10th August 2011 at 2:56 pm

 

The Federal Government has announced the fund managers who will establish new banking and financial services for social enterprises in Australia.

The Minister for Employment Participation, Kate Ellis, announced the successful Social Enterprise Development and Investment Funds (SEDIF) managers as Foresters Community Finance and Social Enterprise Finance Australia (SEFA).

Foresters Community has been awarded $6 million in seed funding to establish two funds to support social enterprises. The Government’s funding has been fully matched by Foresters’ investment partner Christian Super Fund taking the total fund value to $12 million.

Social Enterprise Finance Australia (SEFA) has been awarded $10 million in seed funding with a further $10 million being invested by a range of corporate and individual investors, to seed the $20 million SEFA Loan Fund.

In January 2011, the Federal Government called for proposals to establish new banking and financial services for social enterprises in Australia.

The Gillard Government announced in July 2010 that it would make $20 million available for social enterprises through the establishment of the Social Enterprise Development and Investment Funds (SEDIF).

The social enterprise funds at set to help address the difficulties that social enterprises can face in accessing private capital for the development of businesses.

The Department of Education, Employment and Workplace Relations (DEEWR) has released guidelines that the department hopes will bring Government, social enterprises and the investment sector to ensure that Australian social enterprises have a strong future.

More information on the SEDIF program and each of the fund managers is available atwww.deewr.gov.au/pages/sedif.aspx


Lina Caneva  |  Editor  |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years. She was the editor of Pro Bono Australia News from when it was founded in 2000 until 2018.


Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au


Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

The state of Australian and New Zealand B Corps revealed

Maggie Coggan

Tuesday, 12th November 2019 at 8:36 am

The 30 most memorable quotes from the Social Enterprise World Forum 2019

Jay Boolkin

Wednesday, 6th November 2019 at 9:04 am

Funding at the Edge

Laura Reed

Tuesday, 15th October 2019 at 8:27 am

POPULAR

Our royal commission is not yet a safe place for people with disability

Emma Bennison

Wednesday, 6th November 2019 at 4:59 pm

Disability royal commission begins amid fears around support services

Luke Michael

Monday, 4th November 2019 at 12:58 pm

Report finds NFP boards lack leadership in fundraising

Luke Michael

Wednesday, 13th November 2019 at 2:30 pm

Mental health system failing vulnerable Aussies

Luke Michael

Friday, 1st November 2019 at 12:29 pm

Go Salary
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!