Do you want to apply but still have questions? Please take a look at our Q&A section for answers to some common queries and insights into the application process. Your journey to becoming a part of VIA Fund's impactful community starts here!
You can apply if you meet the following eligibility requirements!
– You are an experienced team that has been in operation for more than one year
– You have proven social impact results
– You have a validated and market-proven business model with positive financial results
– Your business has the potential to scale
Our fund currently provides grant funding combined with non-interest or small-interest loans. Social enterprises can benefit from grants to enhance their capacity and innovation, while loans provide essential working capital for growth and scalability.ﾠ
The application process begins when you check your eligibility with the quiz at the bottom of our For social enterprises page. Only by passing the quiz will you have access to the application form, which you will have to submit by September 15! From that point on, a member of the VIA Fund team will get in contact with you for the next steps.
To start the application process with VIA Fund, you will need to prepare and provide several essential documents. These documents are crucial for our initial assessment and consideration of your social enterprise’s eligibility for funding. Here’s a list of the key documents we require:
- Application Stage: Pitch Deck. A pitch deck for a social enterprise applying to VIA Fund should include concise information on the venture’s name, problem, solution, business model, marketing and sales strategies, impact achieved, financial overview, funding request, team qualifications, scaling plans, and a compelling conclusion.ﾠ
- Due Diligence Stage: If we move forward, you will be requested to provide the following documents: financial projections for 2 years, financial statements, legal and registration documents, organizational structure and team information, as well as an impact model with verification of impact results. These documents are crucial for us to gain a comprehensive understanding of your organization’s financial health and sustainability. Please note that the specific documents required may vary depending on each case.
- Screening Stage (Timeline: 1 week):
Our team will conduct light research into your organization’s mission, values, goals, and activities. We also assess if your social enterprise has an impact model, financial results, and the potential to scale.
- Getting to Know Each Other (TImeline: 1-2 weeks)
If you pass the screening stage, you will be invited to a 30-minute Zoom call, where you will be introduced to VIA Fund and we will learn more about your high-level goals, values, and organizational structure.
- Desktop Due Diligence (TImeline: 3-4 weeks)
If you pass the Get To Know Each Other stage, you will enter the Due Diligence stage, where we dig deeper into your organization’s potential impact and viability. In this stage, we will thoroughly review your documents, financial model, market analysis, and impact verification.
- On-Site Due Diligence (Timeline: 2-3 weeks)
The next stage is an On-Site Due Diligence process, where we conduct follow-up calls and meetings to address any open questions or red flags.
- Proposal and Investment Committee (Timeline: 1-2 weeks)
Once these processes are complete, the process of crafting a proposal for funding begins.
- Finalization and Contracting (Timeline: 2-3 weeks)
At this point, we will negotiate the terms and reach a mutual agreement that includes crucial details such as the non-financial support plan, impact metrics and targets, reporting requirements, and special terms on returning investments.
We will contact all applicants by email to let them know whether or not they have been shortlisted.
The funds can be utilized by social enterprises for various purposes that align with their growth and impact objectives. Grant funding can be used to:
- improve organizational capacity,ﾠ
- enhance operational efficiency,
- drive innovation, test new markets and impact/business hypotheses,ﾠ
- support the scaling of operations.ﾠ
Meanwhile, loan financing provides essential working capital, enabling social enterprises to seize growth opportunities, expand their reach, and ensure financial sustainability.ﾠ
Together, the funds support social enterprises in scaling and maximizing tangible social impact results for their beneficiaries.
From selected investees, VIA Fund expects a strong commitment to driving positive social and environmental impact while maintaining a sustainable and viable business model. Here are some key expectations:
- Impact Delivery: Investees are expected to actively work towards achieving their stated social and environmental impact goals. Regular reporting on impact metrics and outcomes is essential to demonstrate progress and transparency.
- Business Outcomes Delivery: This includes meeting financial milestones, generating revenue, increasing sales, and outreach of the services or products.
- Financial Reporting: for investees receiving grants VIA Fund requires financial reports in accordance with the EU financial reporting standards. Investees must provide detailed financial reports, ensuring transparency and accountability in the utilization of grant funds.
- Communication and Collaboration: regular and open communication with VIA Fund is crucial to foster a strong partnership.
- Impact Measurement and Reporting: investees should have robust impact measurement mechanisms in place to track and report their social and environmental outcomes accurately.
In exchange for this, we are committed to investees’ capacity building and investing in strengthening their team’s capabilities and organizational capacity to improve efficiency and effectiveness.
If you have any more questions, please sign up for our next info session on August 24 at 5:00 PM!