Close Search
 
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Social Finance

Social Enterprise Development Fund Managers Named


10 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.

Lina Caneva | 10 August 2011 at 2:56 pm


0 Comments


 Print
Social Enterprise Development Fund Managers Named
10 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.

PB Careers
Get your biweekly dose of news, opinion and analysis to keep you up to date with what’s happening and why it matters for you, sent every Tuesday and Thursday morning.

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 or download our contributor guidelines.

Advertisement

Virtual Congress - CPA Australia


Your email address will not be published.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



YOU MAY ALSO LIKE

Australians set to make their money matter

Maggie Coggan

Monday, 26th October 2020 at 8:15 pm

New social impact bond focuses on disengaged students

Luke Michael

Monday, 26th October 2020 at 6:11 pm

Shifting impact investing from the ‘why’ to the ‘how’

Luke Michael

Monday, 19th October 2020 at 6:21 pm

Investors back push for stronger climate action

Maggie Coggan

Wednesday, 14th October 2020 at 10:29 pm

pba inverse logo
Subscribe Twitter Facebook
×