TSELF helps local radio step things up a gear

Rossendale Community Radio will soon be broadcasting across the region using state-of-the-art transmission equipment thanks to funding from The Social Enterprise Loan Fund (TSELF).

A recently awarded loan of £20,000 from TSELF will enable the community radio station to invest in much-needed new equipment, in order to broadcast to the Rossendale Valley.

Rossendale Radio, a ‘Community Interest Company’ (CIC) is a full service community radio station which plans to bring a new community voice from Haslingden to Bacup, Crawshawbooth to Ramsbottom, and everywhere in between.

Thanks to a recently awarded grant of £500,000 from the Northwest Regional Development Agency (NWDA) and the European Regional Development Fund (ERDF), TSELF can provide Small Loans for Social Enterprise awards up to £50,000 to help even more organisations like Rossendale Radio in the North West region.

With a broadcasting philosophy to create a unique station sound that will engage the community whilst utilising people with skills that are underused in mainstream radio services, Rossendale Radio offers an important cultural development for the area.

Rossendale Radio's Project Manager, Tony Nixon, said: “The funds from TSELF have given us a much needed financial lift which now means we can offer training and coaching via a second studio, as well as purchase the vital equipment needed to begin broadcasting. Without this money, there is no question our launch would have been delayed much much further.”

Roy White, North West Regional Director at TSELF, said: “There is a vibrant social enterprise sector in the North West which we are committed to helping to grow.

“Rossendale Radio is set to become a dynamic radio station which provides a range of high quality programming to the local community, and we are thrilled to be able to assist in this way.

“The grant from the NWDA and the ERDF is a great boost, and we are now looking forward to working with more social enterprises, charities and small businesses across the region that are unable to secure sufficient funding from mainstream sources.”

Social enterprise organisations throughout the UK are bucking the trend and thriving in the difficult economic climate and the Social Enterprise Movement as a whole, is now made up of tens of thousands of organisations and accounts for more than one per cent of the UK’s total economy.

Roy White added: “The work of social enterprises is invaluable and we are keen to hear from such organisations which need to secure additional funding.

“TSELF provides loans to social enterprises and charities ranging from £3,000 to £250,000. We are here to help, so we would encourage any social enterprises looking for loans, to contact us immediately.”

The Social Enterprise Loan Fund (TSELF) is a Community Development Finance Institution (CDFI) and a registered charity aiming to support social enterprises engaged in social regeneration projects with the provision of loan finance.

TSELF has, to date, invested £8million in social enterprises across the UK, helping clients to generate job opportunities as well as training places.