AHRI
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  Finance, Philanthropy, Politics, Social Innovation

Social Enterprise Development Fund Managers Named


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


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, and Editor of Pro Bono Australia News since it was founded in 2000.


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

How Can Charities Benefit From Social Enterprise?

Contributor

Thursday, 5th July 2018 at 7:11 am

Kicking Goals With PARK

Wendy Williams

Wednesday, 4th July 2018 at 9:21 am

Reflections On Social Enterprise: Has it Lost its Way?

Alan Kay

Wednesday, 4th July 2018 at 7:01 am

POPULAR

Man Battling Cancer and Centrelink Raises Social Media Storm

Paul Carter

Tuesday, 10th July 2018 at 12:42 pm

Shorten and Abbott Defend Catholics Against ACNC Probe

Luke Michael

Monday, 16th July 2018 at 4:25 pm

New Research Looks to Improve Disability Employment Rate

Luke Michael

Monday, 9th July 2018 at 2:35 pm

How Can Charities Benefit From Social Enterprise?

Contributor

Thursday, 5th July 2018 at 7:11 am

AHRI
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!