The Third Sector Resilience Fund is a £20m emergency fund set up by the Scottish Government to support organisations in Scotland during the coronavirus pandemic. Corra is one of the organisations helping to run the fund.
We know how important it is for organisations to be able to keep the lights on through this uncertain time. We also appreciate just how much time goes into applying for funding and how busy people are right now.
As we’re seeing lots of applications, we thought it would be a good idea to share some learning as we go along. Here are a few points which may help with your application:
Keep your application focused
We’ve been hearing many wonderful stories on how organisations are responding innovatively to the needs of the communities they work with during this time.
However, the Third Sector Resilience Fund is not for new activities or activities in response to coronavirus.
- Keep your application and budget focused on essential costs that will keep your organisation going during this crisis.
- If you’re delivering activities in response to the coronavirus, other funding sources can be found on the SCVO Coronavirus Funding Hub.
Current unrestricted reserves or cashflow
We’ve received feedback that some organisations are a bit unsure on what this means.
- Current reserves are the level of *unrestricted cash balance that you have in your bank account.
*Unrestricted (money that has been set aside, to use for your organisational needs; out with core activities).
- The funds can only support essential costs such as rent, utilities and staff that cannot be furloughed.
- It is important to break your budget down to show the main items you need help with.
- Keep your headings simple e.g. rent, electricity, insurance.
Third Sector Resilience Fund Phase 2
The Scottish Government has recently pledged additional funding to support a second phase of the Third Sector Resilience Fund. The main updates are:
Maximum grant awarded will be £75,000.
- Funding requests must be for a three month period.
- Applicants must be at risk of, or unable to, cover essential costs within 12 weeks from the date of application.
- Applications requesting £50,000 and above will be considered for a loan; or part grant-part loan.
If you’ve already applied to the Third Sector Resilience Fund but haven’t been funded, you can reapply as long as you’ve addressed any feedback given; and/or if your circumstances have changed.
For more information and to see if this fund is the right one for your organisation, you can check on SCVO’s eligibility checker. Guidance notes to apply for the fund can be found here as well as FAQ’s.