Teesside social enterprise awarded £30,000 loan
The Five Lamps Organisation, the Thornaby, Teesside based social enterprise that offers a range of social, economic and financial inclusion services throughout the North East, has recently been awarded a loan of £30,000 from The Social Enterprise Loan Fund (TSELF) to contribute to a new project the organisation is developing.
The loan has supplemented the Big Lottery Community Asset Fund, previously secured by Five Lamps, and enabled the organisation to renovate a Grade 2 Listed local authority building in Stockton town centre. The property, located in Dovecot Street, will provide facilities for 'hard to reach' individuals in the local community.
The £37,000 project, part of a Big Lottery initiative and conducted in partnership with Stockton Borough Council and TSELF, has allowed Five Lamps to create a central point through which to deliver it services which include: helping people into employment, an enterprise gateway, services for young people, financial inclusion advice and providing key skills and accredited learning.
Through the project, Five Lamps aims to reach at least 4,000 hard to reach individuals a year, and will also have the capacity to allow up to ten other local third sector organisations to use the new facilities each year. Read more at the Social Enterprise Live website.