Gwybodaeth Ychwanegol
SERVICE REQUIRED
The Development Bank of Wales is seeking to appoint a Funding Delivery Partner (“Service Provider”) to support delivery of funding to the social enterprise sector in Wales through funding available in the Wales Micro- Loan Fund, or future subsequent follow-on funding as agreed with Welsh Government. The below sections detail the service requirements.
Fund Objectives
Delivery of the following key objectives:
Ensuring pan-Wales access to finance for social enterprises
Providing patient capital for social enterprise businesses
Encouraging start-up and growth of social enterprises
Supporting the wider third sector where viable repayable projects exist
Service Delivery
Operational delivery in line with the following requirements:
Holding Fund Management
DBW Investments 10 Ltd will act as the Holding Fund with primary responsibility for fund governance and managing the performance of the service providers. Any fund management contract awarded will be entered into with this entity.
Marketing
DBW and the service providers will be jointly responsible for the marketing of the available funding.
Investment Process
Stage 1- Service provider:
Promotion of funding availability through dedicated marketing and events (including social media and websites)
Processing enquiries and applications for funding
Sanctioning of loans within own existing processes- including investment panel as appropriate
Submission of sanction paper to DBW along with approval documentation
Stage 2- DBW
Review investment eligibility and check all documentation.
Run suite of relevant searches including Equifax and Consumer reports.
DBW originated the Auto ID&V to individuals and complete the Customer Due Diligence form.
Set up social enterprise companies and individual contacts on CRM
Legal team to create offer letter and all security documentation
Offer letter / Security documentation is sent to the social enterprise via DocuSign bundle.
Stage 3- Social Enterprise
Completion of loan paperwork and complete the Auto ID&V process
Loan Paperwork is returned to DBW via DocuSign once completed and signed by all parties.
Stage 4- Service Provider
Completion of drawdown request form, completion note, and Authorised Signatory sign off.
Stage 5 – DBW
Drawdown prepared
File checked by DBW Fund Manager
Final Searches completed
Drawdown sign off
Finance to process transfer of funds to social enterprise
Portfolio Management process
Service Provider
Ongoing account management
Completion of Impact of Investment form annually using data from each ‘live’ social enterprise company and forward to DBW
Gain and review any Conditions Subsequent documentation following initial loan drawdown
Update DBW with payment strategy should there be any unpaid Direct Debits
Liaise with DBW if social enterprises require copy of loan statements or early redemption statements
Liaise with DBW should the social enterprise require any repayment holidays or early/full repayment of loan
Advise DBW if any risk issues identified within the social enterprise
DBW
Monthly Direct Debit set up and initiate annual Impact of Investment form with Service Provider.
Management by the internal Risk team of any investments where there is more than 2 months of arrears. The DBW Risk team will work in collaboration with the service provider to support the individual customer’s needs.
Management of repayment of loan or part repayment of loan if instruction received from service provider or social enterprise
The contract for services by the Service Provider will be awarded for an initial 1-year timeframe, with subsequent annual 1-year extensions following notice of commitment of budget for that year from Welsh Government. The 1-year contract extensions will continue for a period of 4 years, therefore providing for services for 5 years in total.
(WA Ref:147697)
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