Not unless we need further information, but we may need to discuss some of the points in more detail. It is important that you provide details of an appropriate named individual in your application form including contact telephone and email address.
Yes, however, this is a fast moving fund and we are working towards awarding funding within 10 working days, so if you want to withdraw your application you should notify us within the first five working days of applying.
The eligibility checker will guide you to the correct form based on your funding needs. If you are applying for a grant please fill out a Corra Foundation form (up to £25,000) or a Firstport form (£25,000 - £100,000). If you are applying for a loan (£50,000 upwards) please complete the Social Investment Scotland form. Whilst application forms have been designed to gather similar information, there are differences. If you complete the wrong form you may be asked to resubmit your application using the correct form.
The TSRF is an emergency fund so it is designed to support organisations in the short-term. It is expected that the funding will be available to cover an organisation's costs for three months.
Yes, in fact any organisation with funding needs over £50,000 will be automatically considered for a loan, a grant or a blended funding approach (a mix of grant and loan funding). If under normal circumstances your organisation could repay a loan based on the terms of a TSRF loan, the fund partners will recommend that some, or all of your funding comes from loan finance. In such cases that organisations are assessed as potential loan awardees, they will be directed to work with a member of the Social Investment Scotland team to progress the loan portion of their application. Where blended finance is recommended, the loan portion can start at £25,000.
This should be someone who is authorised to prepare and sign off the application and take responsibility for management of the funds, for example a senior manager of member of the board of directors/trustees.
Yes, you can reapply through the eligibility checker if you can address the feedback received or if there is a change of circumstances in your organisation. If in your feedback it is recommended that you tap into Just Enterprise support, which is specifically designed to support social enterprises and enterprising third sector organisations, you will be expected to engage with that support before re-applying.
We appreciate that the charities, voluntary sector and social enterprises cover a wide variety of activities. You should select the category that you are closest to for example if you are delivering a lunch club you would choose health and social care. You can select other and define your sector e.g. environmental.
This is a flexible loan product and each loan will be agreed on a case-by-case basis. Key features of TSRF loans are: Up to 12 months repayment holiday in the first year 0% interest Unsecured No arrangement fees After the first 12 months, up to a further 4 years to repay
Given the short-term nature of this fund, grant payments will be made full in advance. Some larger payments and loan funds may be made in tranches.
No, we can only support organisations once. This is an emergency fund to help as many third sector organisations as possible to cover their key costs over a short-term period. We expect applicants to have thought about all their costs and clearly articulate their total funding requirements to see them through a three month period. If you are unsure or need help to work out your costs and funding need, we would encourage you to attend a TSRF Just Enterprise webinar prior to completing an application - https://justenterprise.org/covid-19/third-sector-resilience-fund/
You will receive an email notification of the decision.
You will only be asked to return funds that you have been unable to spend before your organisation closes. Depending on who processes your grant, you should contact Firstport, SIS or Corra Foundation advising them of your position and they will advise on a case-by-case basis.
If you have any accessilbity requirements, we would be happy to provide the application form in a different format. There are three partners delivering TSRF (Corra Foundation, Firstport and Social Investment Scotland). To find which organisation you need to contact, we would advise that you complete the eligibility checker first and once you are directed to the correct application form, you will find out which of the partners you need to get in touch with.
If you can demonstrate that each branch has their own separate bank account and management committee/structure then you are able to apply.
TSRF is designed to support third sector organisations in the short term, particularly those who are unable to deliver their services during the COVID-19 pandemic. Unless the costs requested are essential to keep the organisation afloat, they are likely outwith the remit of this fund (for example project costs or costs for new/evolved services as a response to the pandemic). In addition, the fund cannot cover loss of income, salaries 'top-up' for furloughed staff, historical debt such as bank loans or costs to provide grants or donations to other organisations or individuals. There are several other emergency funds now available that can support some of these activities and we would encourage you to check the SCVO Coronavirus Hub regularly for the most up to date information.
The Third Sector Resilience Fund can support organisations across the third sector. Organisations can apply if they are: Charities, Community Interest Companies, SCIOs, Companies Ltd by Guarantee (with an asset lock and/or charitable status), Community Benefit Societies, Unincorporated Associations and Companies Ltd by Shares (with a charity as the sole shareholder). If your organisation is unincorporated, we will need to see a copy of your governing document(s). The only exceptions to the above are charities which are designated as Scottish Public Authority under the law and/or where a local authority (e.g. a council) has a constitutional right to appoint a majority of trustees/directors. These organisations are not eligible for TSRF funding.
A subsidiary is eligible if it's a) financial independent b) wholly owned by the charity and C) company limited by shares.
No, the Job Retention Scheme will come into force in April and it will cover the cost of wages backdated to 1st March, so if you are planning to furlough members of your staff, you will recover 80% cost through this scheme. You can, however, apply to a number of sources for zero to low interest bridging loans.
No, if the main reason to apply for the TSRF is to cover staff costs, the UK Retention Scheme already provides a generous package to keep your employees on the pay roll, so you should apply to that. The government are encouraging employers to pay the balance to employees if they are able to do so, but this is voluntary. However, if you need to keep essential staff in employment for the next few months (administrative roles for example), as long as you can evidence why this is the case, the TRSF may be able to help you cover their salary costs.
Successfully securing funding from TRSF does not automatically disqualify you from other COVID-19 emergency support, however, it is important that you assess all schemes available to your organisation and only apply to TRSF if this fund is the most suitable for your individual circumstances. It is also important that you declare funding from other schemes so that assessors can make an informed decision about your application and relative need.
To be eligible for the fund applicants: -Must have impact in Scotland -Be able to identify what impact and revenues are delivered in Scotland -Understand what the cashflow need is in Scotland As a result applicants must be able to: •work out the proportion of income lost from the Scottish centre and the overheads attached to that, and apply for that amount •be able to demonstrate the income lost and overheads in the point above, through management information •confirm the grant/investment is going into the Scottish charity/activity
As long as you have been trading since before March 2020 you can apply to the fund. Where you are unable to provide annual accounts please provide other evidence of trading and financial history. This will include bank statements and any management financial information.
Unfortunately not. Organisations which are designated as a Scottish Public Authority under the law and/or where a local authority (e.g. a council) has a constitutional right to appoint a majority of trustees/directors are not eligible for TSRF even where they are also registered as a charity.
The Third Sector Resilience Fund is specifically designed to support organisations who are at risk of closure directly as a result of the Coronavirus outbreak. We would strongly encourage you to look at your individual circumstances and assess whether other emergency schemes (such as the Coronavirus Job Retention Scheme, the Coronavirus Business Interruption Loan Scheme or one of the other Scottish Third Sector emergency funds) would provide a more viable alternative for your individual needs. We also encourage you to seek financial advice from a trusted source as outlined above.
If you can demonstrate that the 'parent charity' manages all income and expenditure and that the branches do not have separate committees/structures, you are able to apply.
Yes you can still apply but you should detail who your current funders are, when you contacted them and when you expect a decision (if not sure when a decision will be given please state this).
The fund aims to help organisations "keep the lights on" while they are experiencing a sharp decline in income. This means covering overheads and regular costs such as rent, utility bills and essential maintenance costs. The fund can also cover salaries, but only for essential staff. By essential we mean:The individual(s) undertake a key role in your organisation's operations (e.g. payroll, admin, critical maintenance) and cannot be furloughed, as suppose to those delivering services to beneficiares. While we appreciate project workers deliver important services to your beneficiaries, those salary costs are not directly related to the survival of the organisation, so they are not eligible under TSRF. In some instances, you may consider furloughing staff on a rotating basis or other alternatives that allow you to keep salary costs down to a minimum. There are several other emergency funds now available which can cover salary costs for front line staff and we would encourage you to check the SCVO Coronavirus Hub regularly for the most up to date information.
Unfortunately not, however, TSRF can help you cover essential costs and overheads as well as salaries for staff who cannot be furloughed, with the aim of helping you stay afloat during these challenging times.
As a minimum, all applicants will be asked to upload their most recent bank statement.Applicants will also be asked to provide;a copy of your most recent audited/independently checked accounts; if you are a new organisation and do not yet have a set of year-end accounts, a copy of your management accounts or a budget report; If you are applying for a grant of £50,000 or above, or for loan funding, you may be asked to submit other documentation such has Management Accounts, Cash Flow Projections, Income and Expenditure calculations and/or a Business Continuity Plan.
For us to be able to assess your application, we need to understand your financial position and need. If you are not able to provide us with this information, we will not be able to fully assess your application and therefore it is unlikely that your application will be successful.
If you are unable to provide a copy of your bank statement, then we are able to accept a screenshot of your online bank statement/bank information which clearly states your organisation name, account name, account number and sort code.
Current reserves is the level of unrestricted cash balance that you have in your bank account at this moment in time, as per your management accounts.
The fund's priority is to support organisations at most risk of immediate closure, and reserves levels are one of the indicators we use to determine whether an application should be funded. Generally speaking, if your available cash reserves can see you through a period of 12 weeks or more, TSRF will not be able to help you. However, if you have a high level of reserves but are unable to access or spend them, you should explain this in your application, and include in the financial planning section any steps you have taken where you are able to access existing reserves.
For the eligibility checker we are only looking for a ball park figure, which you should be able to see from your monthly in and out goings. You might find it helpful to speak to your treasurer or the person who usually helps you with the organisation’s finances to help with outlining your financial position and plan in the full application.
The total amount should be the total amount you need from this fund over a three month period.
The fund aims to support organisations at highest risk of immediate closure due to the COVID-19 pandemic. This means that organisations that are at risk of or unable to cover their costs within 12 weeks from the date of application will be prioritised. We understand that in some instances organisations have large levels of reserves but cannot access them due to regulatory or other constraints. When this is the case, we expect applicants to clearly explain and justify why they are unable to tap into existing reserves to see through them this period.
Yes, we are able to accept your latest audited accounts even if they are from the previous financial year. However, if you are able to provide draft accounts for the latest financial year, we would prefer to see these.
