What is the Catalyst Fund?
The Catalyst Fund is a revenue-based social investment product. It helps ambitious social businesses to scale their business and their impact.
Revenue-based means that repayments are based on a percentage of the income you earn from selling your products or services. This model keeps repayments flexible and affordable for your organisation as it grows. The fund is open year-round for social enterprises looking for social investment of over £50,000 to help them grow their businesses.
A Catalyst investment is more than just money. It also comes with expert support to help your organisation grow. There are four routes, supporting different types of organisation: Access Catalyst, Community Catalyst, Ventures Catalyst, and Direct Support.
Who is the Catalyst Fund for?
The Catalyst Fund supports ambitious social businesses in Scotland that need investment to grow and deliver meaningful social impact, but cannot yet access funding from other sources.
While there are many social investment options, such as Social Investment Scotland, Foundation Scotland, or providers listed on the Good Finance website, these often don’t suit early-stage or growing organisations. Fixed monthly repayments or asset security requirements can make traditional loans unworkable, especially for start-ups with uneven revenues.
The Catalyst Fund’s flexible, revenue-based repayment model is designed to bridge this gap. It helps social enterprises move towards financial sustainability or prepare for future investment.
Not every organisation will be the right fit, but for some, the Catalyst Fund offers a pathway to growth.
Find your route to support and investment
Th Catalyst Fund has four support routes, listed below.
To access Catalyst Fund investment, you must first work with an investment readiness support provider. The provider you work with will depend on the type of organisation you run and what you are trying to achieve. Follow the links below to find out more about each of the strands.




How does a revenue-based loan work?
The Catalyst Fund offers a revenue-based repayment model. In practice, this means:
- The monthly amount you repay will be based on the trading revenue you have earned. In good months, you will pay back more. In months with low trading revenue, you will pay back less. This is calculated on trading income only, not grants or donations.
- There is no interest rate – instead, we charge a fixed fee. You will always know the total you will have to repay, and it will not increase, regardless of the period of your loan. The fee will be proportionate to the amount you borrow. In total, it will be similar to the amount of interest you would pay on a comparable interest-bearing loan.
- There is no fixed term on your loan. You will continue to repay the agreed percentage until you have repaid the total amount you borrowed and the fee. We aim to be repaid within ten years but will walk with you and support you for as long as it takes!
There are also no repayments for the first twelve months. A model like this gives your social enterprise the time and flexibility it needs to grow.
Eligibility
If Catalyst sounds like it might be a fit for your organisation, please check that you meet the eligibility criteria:
- Scotland-based: My enterprise is incorporated and headquartered in Scotland.
- Positive impact: My enterprise aims to provide direct social benefit to individuals, communities and/or the environment, and I can provide evidence of the impact it makes.
- Operational: My enterprise is up and running, and I can provide evidence of income generation that would support a loan application.
- Social enterprise: My enterprise has an appropriate social enterprise legal structure for the context and location in which it operates.
- Governance: My enterprise has at least three unrelated directors/ trustees.
- Prohibited activities: The activities of my enterprise do not involve political campaigning or the advancement of religion.
- Firstport funding: If my enterprise has received funding from Firstport before, I have completed the required sign-off process.
- Considered other sources: I have considered other forms, or investment providers, but have been unable to secure funding due to my enterprise’s age, stage, or business model.
Not sure if the Catalyst Fund is right for you?
If you’re not ready for the Catalyst Fund, there are other ways to prepare for or access investment.
The LaunchMe programme supports enterprises to build confidence and skills around investment. You’ll join a cohort of social enterprises exploring funding together and get tailored support in areas like financial management and funding strategy.
For smaller-scale finance, Step Up offers 0% interest loans to help you expand what’s already working in your organisation.
Finally, why not read about previous Catalyst Fund investees The Granton Project CIC and The Energy Training Academy to understand how they’re using their investment to scale their businesses and impact?
Have a question?
Please read the guidance below or check out Frequently Asked Questions.
If our FAQs don’t answer your questions, you can arrange a short call with Emily, our Investment Readiness Programme Manager.
Alternatively, you can attend one of our regular Social Investment Office Hours or send us a message via the form on our Contact page.
Downloads
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Catalyst Fund Guidance Document
Please read through this guidance document to understand more about the application and assessment process.
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Catalyst Fund Possible Information Requirements
This document outlines the possible documentation we may ask for as part of your application to the Catalyst Fund.
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Catalyst Fund Investment Proposal Template 2025
This document will help us understand more about your business and growth plans. You will be asked to upload this document when you reach the ‘Supporting Documents’ section of the online application form.
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Catalyst Fund Cashflow Template
You can use this cashflow forecast template as part of your application.
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