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After checking your eligibility, you decide you would like to apply for an investment from SEIF.
To begin the application process, you contact us via one of the following methods
Calling us on 0191 269 2276
A member of our team gets in touch with you to discuss your proposal in more detail and begins an initial assessment of your proposal.
This usually takes place over the phone, but in some cases we may come and see you.
You are asked questions about how your organisation is constituted (you will have to show us that you are a social enterprise), what you need an investment for, how you plan to repay the loan and existing and potential contracts/purchasers.
You will receive an indicative yes or definite no within one week of entering this first phase of dialogue.
At this stage you are assigned an Investment Officer, who will usually arrange to visit your organisation face-to-face. You will be asked to provide more in-depth information about your organisation and your proposal, including certain key documents. For example, you will definitely be requested to provide cashflows and a business plan, in addition to any other documents your Investment Officer deems relevant.
Once you have provided us with all the required information, including key documents, you will receive a definite yes or no within six weeks.
Your investment goes to committee for approval.
A formal offer of investment is made to your organisation, which you have one month to accept. Once the offer has been accepted, you have 12 months to begin drawing down your investment (except for property, where you have to start drawing down within six months).
You begin using your SEIF investment, winning more public sector contracts in the health and social care sector, leading to an improvement in public service delivery.
