Building Better Futures Loan Fund ‘Steps’ in to assist Portadown social enterprise

Operating from their One Eighty Degrees Restaurant in Portadown, Step by Step NI Ltd work in partnership with the Southern Regional College to deliver an award winning training programme for young adults with learning needs. The restaurant operates as a non-profit taking social enterprise and offers a unique opportunity for young people with learning disabilities to acquire qualifications, skills and experience to enable them to gain meaningful employment in the hospitality industry. The organisation recently availed of a loan from the Building Better Futures Fund to meet short term working capital costs. 

Nigel Hampton, Director, Step by Step NI Ltd said:

“Following the loss of a major funder, Step by Step NI’s One Eighty social enterprise which trains and supports young people with a learning disability for employment in the hospitality industry had been at risk of closure. Had that outcome occurred, it would have had extremely negative consequences for the trainees and staff involved. The loan from the Building Better Futures Fund has been instrumental in allowing us to restructure the staff team, restructure the accumulated historic debt into manageable repayments, aid cash flow and allow us to focus on improving income generation and returning the charity to a surplus position.” 

The Building Better Futures scheme has been created and funded through a partnership between Building Change Trust, Belfast Charitable Society and Ulster Community Investment Trust (UCIT). Building Change Trust was established in 2008 by the Big Lottery Fund with an endowment of £10million as an investment for community capacity building and promotion of the voluntary and community sector in Northern Ireland. Belfast Charitable Society was established in 1752 to tackle disadvantage and poverty and in doing so it built the Poor House and Belfast’s first Infirmary, which remains as Clifton House. 
 

The £1 Million fund which is being managed by UCIT provides community and voluntary organisations, charities and social enterprises with access to small unsecured loans of £1,000 - £25,000 which cannot currently be raised from traditional sources.
 

Loans from the Building Better Futures Fund can be used for a wide range of purposes, including buildings and repairs, equipment purchase, making facilities more energy efficient or funding shortfalls in larger grant assisted projects. 

Further information about the scheme is available by contacting UCIT on Tel: 028 9031 5003.