Uk: new fund stimulates growth for social firms

Hackney Community Transport (HCT) – a not for profit organisation that provides transport options for people who are unable to use mainstream public transport – is improving and expanding its services thanks to funding from a £2 million fund for social enterprises from the London Development Agency. The funding was awarded by Co-operative & Community Finance (ICOF) – the lender for social purpose – which was selected to manage the fund in partnership with London Rebuilding Society (LRS). HCT, established in 1982, today employs around 330 people and owns 100 vehicles including double decker buses, minibuses and MPVs for door to door transport services, and premises in East London. Ian Taylor of Co-operative & Community Finance says: ?This is a fine example of how a bus service can offer so much more than transport. The new London fund is proud to be associated with a firm such as Hackney Community Transport. This is community service at its best.?