Unique fund is music to the ears in Hexham
Core Music, a Hexham based community enterprise, which offers a space for people of all ages and abilities to create, play, learn and record music, has received a second loan payment from The Social Enterprise Loan Fund (TSELF).
The enterprise, whose aim is to develop people's music knowledge and skills, including individuals with physical and learning disabilities, has received an extra £10,000 on top of the £20,000 it received originally in December 2008.
The community interest company will use the loan to purchase new and improved stock which will enable it to continue to organise and run music lessons, workshops, events, demonstrations and master classes.
Mike Coleman, director of Core Music, said: "TSELF previously provided us with a loan so that we could purchase up stock for a new retail outlet. That loan was invaluable to us and this second one will be just as well received and used to help more and more people. The money will go towards new quality stock which will further increase the enjoyment of everyone who comes to Core Music."
Regional director for TSELF, Rod Jones, said: "We are delighted to be able to continue our relationship with Core Music CIC. We have seen how the first loan helped them grow and provide a great opportunity to the community in Hexham and beyond - including those who may have been otherwise excluded. We hope this second loan helps them just as much."
TSELF provides loans of £15,000 to £250,000 to social enterprises and charities. A Community Development Finance Institution (CDFI) and registered charity, TSELF aims to support social enterprises engaged in social regeneration projects through providing loan finance. To date, TSELF has invested £8 million in social enterprises across the UK.
For more information about Core Music visit their website or call 01434 601 1993.
To find out more about loan finance visit the TSELF website or call 020 7680 1028.