MSIF’s role as the CDFI for Merseyside is a vital one

THE social unrest witnessed in England’s inner cities this month has re-ignited the debate concerning England’s deep-rooted socio-economic problems. Against the backdrop of the recent riots, the cdfa will hold an important conference in Liverpool on the 7  September and 8 of September 2011, which will focus on the role of CDFIs in strengthening the economies of local deprived communities across the UK. Liverpool, home of the CDFI MSIF, was particularly badly hit, with the eruption of violence and looting leading to calls being made for greater community action. Having addressed wide-spread issues of poverty and deprivation for decades, the role of community development finance institutions (CDFIs), which are social enterprises providing fair and affordable business and personal loans to those unable to access finance from banks, is now more than ever gathering in momentum.

The current policy climate, fostered by the Big Society agenda, calls for high street banks to work alongside social enterprises to ensure that loans are being provided to the financially excluded. This topic, amongst many others, will be discussed and debated at the conference between notable speakers and guests. The conference also includes a visit to MSIF, where the team will be on hand to discuss its current investments and its future plans for the region.

MSIF has been investing in businesses in the local community for over ten years now. Its recent investments through the Small Loans for Business Fund and the Merseyside Loan & Equity Fund have been crucial in providing and safeguarding hundreds of jobs in the area. By recently signing a nine year lease at its new premises at Exchange Court, Liverpool, MSIF has further underpinned its future commitment to the region.

The Fund also has an extremely successful track record in helping SMEs. Since March 2010 when the Fund was launched, the Merseyside Small Loans for Business Fund has already invested £1.1m in 40 Merseyside based businesses. These investments have brought in over £1m in private sector investment to the region. The Merseyside Small Loans for Business Fund’s remit is such that these businesses or individuals would not have been able to obtain funding from elsewhere and therefore without it, these investments would not have been possible.

At the top of its agenda, MSIF is working on encouraging businesses to look beyond the recession and start driving their businesses forward through growth, acquisition or sale. This autumn MSIF will co-host an event with the local professional organisation, Professional Liverpool, to discuss how to access available funding during a time of recession, as well as look at ways to encourage more business activity and, in turn, help boost the region’s economy.

Especially in times of social upheaval and distress, CDFIs remain crucial in bringing about change, and loans provided by MSIF have created countless opportunities for the previously financially excluded. The Merseyside Loan & Equity Fund currently provides funding from 50k up to £2m through loan, mezzanine & equity finance. Together with the Small Loans for Business Fund offering loans from £3k to £50k, this means that MSIF is able to provide a very broad range of finance to SMEs. Examples of successful businesses backed to date are Setgo Games (Creative & Digital), Perfect Hair & Beauty (Retail), Windtex (Energy & Environmental) and Vantage Law (Business & Professional Services).

Lisa Greenhalgh, Chief Operating Officer, MSIF said that:- "MSIF’s role as the CDFI for Merseyside is a vital one. Without the Small Loans for Business Fund small businesses and entrepreneurs would find it very difficult to secure the finance they need to start and grow. By investing in these businesses we are creating a positive long term sustainable impact on the region’s economy. We know from experience how important it is to provide an alternative source of finance – we have been doing this in Merseyside since 1996. Our previous funds were extremely successful in encouraging businesses to start and grow and create and safeguard local jobs. These funds were fully invested in 2008 having invested over £134m in over 1300 businesses, creating and preserving over 13,500 jobs and bringing in excess of £245m. The Small Loans for Business Fund is helping to fill the gap that these funds have left, providing an opportunity for businesses to start and grow."

DON’T WRITE OFF A GENERATION

AUGUST'S riots forced Get Connected’s free helpline service for children and young people under 25 in the UK to close temporarily. Yet Get Connected’s 118 volunteers remain resolute in their determination to ensure Britain’s young people get the support they need in this, their hour of greatest need.  Get Connected is the free, confidential, completely independent helpline service for children and young people under 25 in the UK, who need help, but don’t know where to turn. Last year alone, Get Connected helped 18,700 young people (50 people Every Day) with a wide range of important issues such as: Abuse, Bereavement, Bullying, Depression, Disability, Drugs, Eating Disorders, Emotional Problems, Family Relationships, Homelessness, Mental Health, Pregnancy, Rape, Self-harm, Sexuality, Suicide and Violence.   As courts across the country sat around the clock to hear the 1600+ cases brought before them, it became apparent that while there were clearly examples of lawless opportunism, there were also numerous underlying reasons for the violence and chaos that swept across the country. Get Connected CEO, Fiona Clark, said:- "Get Connected’s helpline service is now open again, offering help to under 25s with any problem via phone, email, text, Webchat and WebHelp 24/7 - its online directory, every day of the year. Calls are free of charge from landlines and mobile phones. Get Connected Helpline Volunteers don’t judge and they don’t tell. At the same time, three children’s support organisations are closing every week and Get Connected is very concerned that communities are turning their backs on children and young people as a result of August’s events."

With record levels of homelessness and unemployment increasing among young people, Get Connected is uniquely placed to identify issues as well as gaps in service and to raise awareness of the growing crisis facing young people. The charity observes that leading by example, supporting and empowering young people to make positive choices, can help them achieve incredible things:-

►  British-born Mike Perham completed a solo Atlantic crossing sailing at the age of 14 in 2009

►  Eleanor Simmonds was the youngest British athlete at the age of 13 to compete in China’s Paralympics 2008, winning gold medals in the 100m and 400m freestyle

►  Thiago Olson built a nuclear fusion reactor in his home in the USA at the age of 17 in 2006

►  Fraser Doherty from Scotland became a millionaire in the jam business at the age of 14 in 2002 and now has 10% of the UK market

►  Mohamed Altoumaimi from Iraq solved the Bernoulli numbers problem at the age of 16 in 2009 – a formula had puzzled the greatest mathematicians for 300 years.

Get Connected believes we must not write off a whole generation based on the unacceptable behaviour of a few. They argue the social cost of ignoring young people’s issues will haunt us long after the events of August have been forgotten.

For more information, about 'Get Connected' go to:- getconnected.org.

British Red Cross needs you!

THE British Red Cross are looking for first aid volunteers to join the Southport Centre. "We meet at the Baptist Church at Eastbank Street Roundabout every Wednesday at 19:00. People are welcome to come in and have a chat and see what we do. The main benefits, should you join, are that you will be fully first aid training, learn life-saving skills, learn skills that will help with self improvement and the satisfaction of knowing you are using your new skills and time to help others. There are other things to do as well as first aid and best of all we get into some great events for free. All members are fully trained in whatever route they take." said Centre Organiser, Fred. If you are interested then phone:- 01704 548320 (treasurer) or call:- 07427 698050 for details. You can also go online. You could make a life-saving difference by joining.