A social enterprise which provides critical funding to North West organisations and businesses with a social mission – ones that have been turned down by mainstream banks and building societies - is celebrating 25 years of transformational lending.

Established in 1999, Key Fund initially set out to respond to the collapse of the coal and steel industries and encourage growth and investment in the hardest hit communities.

Over the past quarter of a century, Key Fund has expanded across the North helping to create and safeguard over 5,000 jobs.

More than 3,000 different organisations have benefited and every £1 of investment delivers impact of at least £4 with 70% of its funding going into the most disadvantaged areas of northern England.

William Whelton, Executive Director of Factory of Creativity

placeholder image — William Whelton, Executive Director of Factory of Creativity

Key Fund’s investment in grants and loans has totalled £64 million, which has also unlocked a further £57 million of funding.

Working with social enterprises from across the North, examples of its work include: Autism Dogs, in Cheshire and Factory of Creativity, in Manchester.

Autism Dogs, a Community Interest Company in Cheshire, trains and matches assistance dogs to support those with autism.

Receiving thousands of enquiries each year, the demand for autism support dogs is substantial. It takes 12 months to train and match a dog and this demand alongside stretched resources encouraged Key Fund to give a £53k loan and £16k loan to Autism Dogs, helping them expand their resources and meet demand.

Caroline Preston, Founder of Autism Dogs, said: “Our organisation is a difficult one to scale up quickly. Key Fund’s support enabled us to invest in more resource. We doubled our training hours and have five more members of staff, with the ability to train a minimum of ten extra dogs a year, which will impact the lives of 50 to 60 people. That increase is directly related to Key Fund’s investment.”

Based in Ancoats, Manchester, Factory of Creativity is an accessible performing arts venue for emerging artists.

From 2015 to 2019, William Whelton and his husband Joseph ran Hope Mill Theatre in a former Grade 2 Cotton Mill, working 100 hour weeks and at one point living in the theatre.

Key Fund’s help enabled the theatre to become a Charitable Incorporated Organisation, establish a community hub, fund new infrastructure and employ more staff, with the overall investment totalling £200k.

William Whelton, Executive Director of Factory of Creativity, said: “Key Fund has always been supportive of our journey. When we found out about them, it felt too good to be true because as a new legal entity, we couldn’t get grants or loans. Without Key Fund we certainly wouldn’t be in the position we’re in now, and might still be trying to find someone to help us to get the charity started.

“Already, the good that’s come out of us becoming a charity is huge and we’ve been able to achieve so many of our objectives. We’re really pleased it’s gone the way it has and we’re very grateful.”

Key Fund works with a variety of partners to support the growth of social impact and enterprise throughout the regions it operates in, including the Cabinet Office.

Stephanie Peacock MP, Parliamentary Under-Secretary of State (Minister for Sport, Media, Civil Society and Youth), said: "Over the past 25 years Key Fund has proven that social investment is a powerful tool for unlocking growth and enabling economic sustainability, while increasing impact for community and social enterprises.

"I thank everyone at Key Fund for their efforts in supporting the growth of organisations that deliver for communities across the North of England and the Midlands, and being such an important part of the UK's impact economy."

Discussing the impact Key Fund has had over the past 25 years and its ambitions for the years to come, Matt Smith, CEO of Key Fund, said: “I’m incredibly proud of the work we’ve done over the past 25 years and I’m even more excited about the work to come.

“From providing a few hundred grants and just one loan when I first joined in 2002, to investing in over 3,000 organisations across the North of England, we have had, and are continuing to have, a significant impact on the communities that benefit from it the most.

“But we can’t rest on our laurels. We’re committed to building on our progress to date and helping as many people and communities as we can.”

In the last three years alone, Key Fund’s investments in organisations across the North have benefitted almost 1.4 million people.

To find out more about Key Fund visit the website.