Social investment helps local council support new charity

A new charity has been launched in Oxford as a result of a partnership between social investment fund CAF Venturesome and Oxford City Council.

The council has acted as a guarantor for the £115,000 worth of social investment, which will support a local charity in a time of spending cuts, reports Social Enterprise.

Arts at the Old Fire Station in Oxford is a charity that helps homeless people in the city, as well as being a hub for the arts.

The social investment will help the charity develop a shop and gallery showcasing the work of local artists, a theatre, a dance studio and workshops.

It will also be working closely with Crisis, which will use the venue as a training, education and employment centre for the homeless and vulnerably housed people.

The social investment is in the form of a loan, which will be paid back through grants and the trading income the project intends to raise.

Casey Lord from CAF Venturesome told the news provider: "This shows that despite being forced to slash billions of pounds from their budgets, local authorities across the country can still support the charitable sector and their local communities if they are innovative."

Disability charity Scope has found an innovative way to fund 100 new shops across the country which will aid fundraising, in the form of a £20 million charity bond.
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