Fair Chance Fund SIB

THE BOND


Established 2014

Commissioner UK Department of Communities and Local Government (DCLG)

Service Provider Depaul UK

Social Intermediary Social Finance


WHERE THEY WORK


UK

 

 

 

 

 

 

 

 


WHAT THEY DO


Around 80,000 young adults (18-24 yr olds) in England experience homelessness every year, with the majority receiving support through existing services. However, there is a group of homeless young adults ‘falling through the cracks’ of existing services due to previous difficulties (e.g. eviction, violence, substance misuse). The Fair Chance Fund has been set up by the DCLG to address the gaps in services to this challenging cohort. The structure of the funding gives service providers time and flexibility to help these young people overcome their challenges and positively transition to accommodation, employment or education.


OUR SUPPORT


We have invested in a Social Impact Bond to fund the delivery costs of Depaul UK under the Fair Chance Fund in Manchester and Greenwich. Repayment of the investment will come from achievement of social performance outcomes in the areas of assessment, moving into and remaining in accommodation, entering education and training and achieving a range of qualifications, and entering and sustaining employment.

 

Depaul