Debt Advice Modernisation Fund 2024/25

To apply for a grant, applicants must:

• Be Financial Conduct Authority (FCA) Authorised

• Directly provide free to clients debt advice 

• Demonstrates sound financial status

• Have turnover of £1,499,999 or less

• Have the capability & capacity to spend funds awarded (£10,000 - £25,000) and complete activities by 31st March 2025

• Be a registered not-for-profit organisation such as a charity or community interest (CICs)

• Not submit a proposal that is already being funded, to avoid duplicative funding

• Ensure their proposal includes an innovative or modernisation element and is not solely focussed on ongoing operational costs

• Be located and provide free debt advice services within England onlyOperate in compliance with the Data Protection Act 2018 and the UK General Data Protection Regulation (UK GDPR)

• Hold adequate insurance coverage to operate

Please note that this funding may be subject to change and withdrawal at any point during the competition window and application assessment process, up to decisions being communicated to applicants. This includes the right to close the competition prior to the advertised date if the fund appears to be over-subscribed.

If successful, applicants will be required to enter into a Grant Funding Agreement with the Money and Pensions Service. The terms of this agreement will be non-negotiable.

The grant will fund projects that establish the systems, tools or processes necessary for the innovation or modernisation of debt advice services. The objectives of the grant fund are:

1. Enhance service delivery: Support organisations in innovating or modernising their debt advice services through the adoption of new tools, technologies, and processes, improving efficiency and effectiveness.

2. Improve accessibility: Increase the accessibility of debt advice services by implementing solutions that make it easier for clients to access support, such as digital platforms, remote services or improved physical accessibility.

3. Drive sustainable change: Encourage lasting improvements in service provision that continue beyond the funding period, ensuring the long-term impact of the projects. 

4. Foster innovation: Promote innovative approaches to debt advice that respond to evolving client needs and sector challenges. 

These objectives aim to create a more efficient, client-centered debt advice sector capable of meeting current and future demands.

Applications will open on Monday 28th October 2024 and close on Friday 22nd November 2024, midday (4 weeks). Only one application per organisation can be made.

Applicants will be informed of the outcome of their application by Mid-December. The timeframe for assessment and award is indicative and subject to change, as it is dependent on the volume of applications received.

All funding must be spent by 31st March 2025.

Eligible applicants are invited to submit an application by selecting Start new application.  

We will only accept one application per organisation. Please note that you can begin your application and return to it at a later point via your 'Find and Apply for a Grant' account.

There are 9 sections to this application:

Eligibility Statement:

You will be required to agree to the eligibility criteria in order to proceed further details can be found under the ‘Eligibility’ & 'Summary' sections. Failure to agree will prevent you from proceeding with your application.

Due-diligence checks:

All applicants are asked for certain information which allows us to carry out compliance and due-diligence checks, and prevent fraud.

The information required depends on the type of organisation you are, however the information is standard and should be quick to populate:

• Organisation legal name

• Organisation type (e.g. charity)

• Registered address

• Charity Commission number

• Companies House number (if applicable)

• Amount of funding required

• Where the funding will be spent

 The organisation will also be asked:

• For their Financial Conduct Authority (FCA) Firm Reference Number (FRN)

• To confirm that they provide free to client debt advice

• To confirm that their turnover is £1,499,999 or less

• To confirm that their proposal meets the grant objectives and that they have both capacity and the capability to deliver the project and spend the requested grant funds by 31/03/2025

• To confirm that their proposal is not currently being funded by another funding stream

 Project Relevance / Problem Statement (25%):

Organisations will be asked to very briefly describe the project that will be undertaken if they are successful in their application for funding. You will be asked to describe the problem or challenge that their organisation is facing that their proposal aims to address and how it will affect their debt advice services, clients or operations.

Organisations will also be asked to describe how their project aligns with the grant's objectives (as seen in the 'Objectives' section of this advertisement) and what specific aspects of their service delivery will be improved or transformed as a result of the project.

Deliverability - Capacity (20%):

You will be asked to provide an overview of your project management approach, outline the resources available within your organisation that will support the successful completion of this project (e.g. staff, technology, infrastructure) and describe how these resources be allocated during the project delivery window.

Organisations will also be asked to provide a delivery plan (using the template available within the 'Supporting Documents' section of this grant advertisement) illustrating timelines and milestones and how you plan to ensure the project remains on track for completion by 31st March 2025.

Deliverability - Capability (25%):

Organisations will be asked to provide details of any similar projects they have completed in the past that demonstrate your ability to deliver projects like the one you are proposing. You will also be asked how did these projects contribute to improving your services or operations.

You will also be asked to describe the skills, qualifications, and experience of the team that will be delivering this project. If you are working with partners or external providers, you will need to explain their roles and how they will contribute to the project's success.

Impact (35%):

Organisations will be asked what are the expected outcomes of your project, and how will they improve the efficiency, effectiveness, or reach of your debt advice services. You will be asked to provide specific, measurable indicators of success.

You will also be asked to describe how your project will create long-lasting benefits for your organisation and the communities you serve and if improvements be scalable or replicable in other services or areas.

Financial Methodology:

You must complete and upload the 'Budget Toolkit' template (available within the 'Supporting Documents' section of this grant advertisement). The budget submitted should correlate with your delivery plan and the amount of funding requested.

Data Protection:

Organisations will be asked to self-certify that their organisation operates in compliance with the Data Protection Act 1018 and the UK General Data Protection Regulation (UK GDPR) by confirming they have allocated resource, policies and procedures in place.

Insurance Coverage:

Organisations will be asked to self-certify that their organisation holds an Employer's Liability Insurance certificate, and disclose if they hold any of the following in addition; Public Liability Insurance, Professional Liability Insurance or Product Liability Insurance.