Emerging Futures, a not for profit organisation that provides emergency and transitional supported housing for vulnerable people, including those experiencing problems with substance misuse, low level mental health and homelessness, and/or involvement with the criminal justice system, has received a £2.3m social investment loan from Social and Sustainable Capital (SASC), from its Social and Sustainable Housing fund (SASH), to expand and improve its portfolio of accommodation.
Founded in 2014, Emerging Futures currently provides 233 bed spaces for people across the country leased from private landlords, local authorities, and registered housing providers, which bridge the gap between homelessness and stable accommodation. Its residents are supported to engage with a range of local health, social care, and behavioural change programmes to support their journey towards recovery and independent living.
Using the loan, Emerging Futures will purchase up to 10 properties (two three-bed and eight four-bed) to support people who are provided for under existing local authority contracts in East Cheshire, Lancashire, and Hertfordshire.
Buying the properties will enable the charity to secure the supply of properties to meet demand, improve the quality of the accommodation and broaden the mix of properties to meet the different needs of beneficiaries, for example it will include emergency housing, as well as follow on accommodation.
Emerging Futures plans to continue to work with its existing local authorities and private landlord partners and will have a mixed portfolio of housing – some properties will be owned by them and some leased.
Ray Jenkins, Chief Executive, Emerging Future said, “We work with some of the most marginalised people in society. Having a safe place where they are proud to live together with holistic support is the first step in their recovery as it improves their self-worth, builds their resilience, and motivates behaviour change.
“This loan from SASC will secure our business model and ensure we can continue to supply high quality, well maintained homes, where people can connect, achieve and thrive.
“We plan to use the money to benefit the people we already work with so we will be buying some properties we currently rent from private landlords. One of the main benefits of the loan is that it will help us to secure and future proof our operations and business and cement our work with partners. Working with the team at SASC was a great experience – they are highly supportive, engaged and they share our values and ethos.”
Ben Rick, CEO, SASC said, “Emerging Futures is a fast-growing organisation who are experts in helping vulnerable people overcome addiction and other problems and reintegrating them into society. This loan will enable them to broaden their portfolio, secure their supply housing for people who need it most and put them in a strong position to expand their work into new regions in the future.”
This is SASC’s 11th investment from the SASH fund. SASH was co-designed with borrower charities whose work with vulnerable people was being hampered through lack of access to safe, stable, and appropriate homes.
For more information on SASC visit www.socialandsustainable.com