SOCIAL ENTERPRISE
LOAN FUND
Australia’s first loan fund for social enterprises supporting employment pathways.
Photo: Common Ground Project
The right capital, at the right time.
You’re running an enterprise that does something most businesses don’t. You create jobs for people who need them most. But when it comes to accessing the capital to grow, the system wasn’t built with you in mind.
The Social Enterprise Loan Fund (SELF) was built for this. Launched in 2025, the SELF offers flexible, affordable financing designed specifically for social enterprises supporting employment pathways, from people who understand what you do and why it matters.
About the self
$4.4M
Secured to date
$100K – $500K
Loan range
5
Social enterprises funded (so far)
Backed by a strong network
The SELF is managed by White Box Finance, a separate entity from White Box Enterprises, and overseen by a dedicated and experienced independent board of directors. We’re backed by Westpac Foundation, Macquarie Group Foundation, the Australian Government, Victorian Government and two private foundations.
Built for impact
The SELF bridges the gap between traditional finance and philanthropic funding. Through impact-based discounts, borrowers who meet job creation and community benefit milestones can lower their interest rate over time.
Designed for social enterprise
Unlike traditional lenders, we assess each organisation on its own merits. We understand the social enterprise business model, and we work with you to find terms that fit your circumstances, not the other way around.
Flexible security
SELF loans do not have to be secured. Where no collateral exists, future contracts or trading turnover will be considered. The goal is financing that works for your enterprise, not a security checklist that rules you out.
“Getting this SELF loan has been a gamechanger for us.”
— Jill Ashley, CEO, ShoreTrack, the first SELF recipient
Photo: Shoretrack
watch and learn
The SELF explained
A 50-minute info session walking through how the SELF works, who’s eligible, and how to apply — with Q&A from social enterprises like yours.
The SELF in practice
Hear from social enterprises who have been through the process — honest reflections on what assessors look for and how the loan has supported their growth.
Photo: Good Cycles
Why Borrow?
Debt isn't a dirty word. It can open doors.
If borrowing feels unfamiliar, you’re not alone. But patient capital can do things grants never could, on your timeline, without compromising your mission. The right loan at the right time can change the trajectory of your enterprise. And we’re here to guide you every step of the way.
“We need finance like any other business as we grow. Grants are there, but we need different types of financing for different purposes.”
— Kirra Johnson, CEO, Good Cycles
1
Flexibility
Your mission shouldn’t have to fit the funding. With a SELF loan, you choose where the capital goes, no grant conditions, no competition with other organisations. Just the freedom to do what you know needs doing.
2
Right Timing
Capital on your timeline, whether growing your team, buying equipment, or responding to an urgent opportunity.
3
Retain Control
No equity required. You keep your mission, your vision, and your enterprise — borrowing doesn’t change that.
4
Impact Rewards
Meet job-creation milestones and your interest rate drops — borrowing costs fall as your impact rises.
5
Build Financial Resilience
Managing debt fosters financial discipline and diversification. Rather than being locked into short-term project cycles, patient debt alongside grants and philanthropy gives you a more balanced, sustainable funding base.
Hear from someone who’s been through it.
Photo: Photo: Artist Teresa Tunkin with her 3x3m major
work at APY Adelaide Art Centre. Image by Andy
Francis, courtesy the artist and APY Art Centre
Collective.
Loan Details
Built for social enterprise, not traditional finance.
Eligible uses
You can use your loan for working capital, equipment purchases, expansion costs, or growth-related expenses that align with the mission of creating employment opportunities.
Impact-based interest reduction
If you meet your agreed impact milestones, you will receive a 0.5% rebate on your effective interest rate, reducing your repayments for the rest of your loan term.
$100K – $500K
Loan range
6.5% – 9.5%
Interest rate
Up to 7 years
Loan term
Flexible
Security
Photo: Roya Moeen is the Head Chef at Kabul Social. Image courtesy of Plate It Forward.
Eligibility
Is the SELF right for your enterprise?
SELF loans are made for social enterprises supporting employment
pathways: businesses that create meaningful employment opportunities for
people often excluded from the job market.
To be eligible, you need to be a registered not-for-profit (or Indigenous
business) with Public Benevolent Institution (PBI) status and Deductible
Gift Recipient (DGR) endorsement.
Here’s what else we’ll be looking for:
- Operating as a social enterprise for 2 or more years
- Over 50% of revenue from trade (at least $50K in the last financial year)
- Social Traders certified, People and Planet First verified, or Supply Nation registered, or actively working towards it
- Full award wages paid
- A clear plan for how the loan will be used and the impact you expect it to create
See full eligibility criteria
Cohorts you primarily employ and support
Your enterprise must primarily employ and support people from at least one of the following groups:
- Aboriginal and Torres Strait Islander people
- Adults aged 65 and over
- Migrants, refugees, or asylum seekers
- People from culturally and linguistically diverse backgrounds
- Residents in rural, regional, or remote communities
- People with disabilities
Individuals with recent or current experience of homelessness - Youth aged 15 to under 25
- Other individuals with documented experiences of disadvantage
Evidence of employment and support
We’ll ask you to demonstrate the employment and support you provide.
Evidence can include:
- Independent evaluations
- Participation in government programs such as Skilling
- Queenslanders for Work or Disability Employment Services
- De-identified data on employees, for example numbers of employees from target cohorts or residence locations
- Qualitative or photographic evidence of employment and support initiatives
Financial and operational readiness
You’ll need to provide:
- Past and projected financial statements
- A clear plan for how the loan will be used and the expected social and financial impact
- Evidence of a management team with strong dedication to your social mission and relevant experience
Not sure if you qualify? We’re happy to have a conversation before you formally apply.
If that sounds like you, we'd love to hear from you.
And if you’re not quite ready yet, Murna O’Neill’s investment readiness checklist here is a good place to start.
How to apply
From the first hello to funded in four steps
We know social enterprises have unique needs and we’re here to help you every step of the way.
The process typically runs about three months. Here’s how it works
1
Get in touch
Complete the expression of interest form or send us an email to find out more. If you are eligible, we’ll reach out to set up a quick chat to make sure our funding options are the right fit for you.
2
Get to know you
If we feel we’re a good fit, we’ll invite you to share information about your business, your financials, and the impact you’re creating. We’ll also meet you in person, because we believe relationships matter.
3
Get Approved
Our team reviews everything and presents it to our investment committee for a final decision. If you’re approved, we’ll send you a loan agreement covering your repayment terms, any security required, and the impact goals you’ve committed to.
4
Get funded and rewarded
Once everything is signed, your funds are on their way. From there, you’ll keep us in the loop with regular updates on your finances and impact. Hit your impact targets and you’ll earn a 0.5%* rebate on your interest rate. That’s money back in your pocket for doing good.
*The 0.5% rebate is calculated retrospectively from the start of the loan and reflected in reduced repayments for the remainder of your loan term.
WHO'S INVOLVED
Backed by people who know what they’re doing.
The SELF is backed by significant players committed to fostering economic and social impact, including Westpac Foundation, Macquarie Group Foundation, the Australian Government, the Victorian Government, the English Family Foundation, and the Ian & Shirley Norman Foundation.
Our partners
Our Team
Murna O’Neill
SELF GM
Quyen Ngo
SELF Analyst
Mark Daniels
Chief Operating Officer WBE
Josh Ackman
Head of White Box Finance
Our investment committee
Mark Daniels
SELF GM
Josh Ackman
Head of White Box Finance
Lauren Maccheroni
Director Sustainability Team – Macquarie Asset Management
Craig Parker
Former Westpac Executive Director Securitisation & Structured Finance
Matt Cameron
General Manager Investment Risk Management, HESTA
FAQ
Have questions? We’ve got answers. Check out our FAQs below or watch the recorded info session for a full walkthrough.
What is the Social Enterprise Loan Fund (SELF)?
The SELF is Australia’s first loan fund built specifically for social enterprises supporting employment pathways. Launched by White Box Enterprises in 2025, it provides flexible, patient, affordable finance to help social enterprises like yours grow and create job opportunities for people previously excluded from the jobs market.
Who is eligible to apply for a SELF loan?
The SELF is open to social enterprises registered in Australia that have been operating for at least two years, generate at least 50% of their revenue from trading activities (selling goods or services), and have earned at least $50,000 in revenue in the last financial year. See the full eligibility criteria above.
What can the loan fund be used for?
Working capital, equipment purchases, expansion costs, new team members — anything that helps you grow and create more employment opportunities. The main thing we ask is that it aligns with your mission. It can’t be used for non-mission investments or distributions to owners.
What are the typical loan amounts and terms?
Loans range from $100,000 to $500,000, with interest rates between 6.5% and 9.5% and terms of two to seven years. Flexible repayment schedules are designed to accommodate the needs of social enterprises.
How do I apply?
Start by submitting an expression of interest. If you meet the initial criteria, we’ll reach out for a chat to make sure the SELF is the right fit. If it is, we’ll invite you to complete a full application. See the full process above.
What documents will I need?
You’ll need to provide financial statements, a financial forecast, evidence of your social impact, a business and impact plan, and other relevant information about your business model and mission alignment. We may also ask for evidence of certification or verification with Social Traders, People and Planet First or Supply Nation. We’ll let you know exactly what we need once you’re through the initial stage.
How long does the process take?
We aim to complete assessment and approval within three months. The timeline depends on how complex your application is, how quickly you can provide information, and current demand for the fund. We’ll keep you updated throughout.
What is the impact-based interest rebate?
Borrowers who hit agreed social impact milestones, such as job creation targets, will receive a 0.5% interest rebate. The rebate is calculated retrospectively from the start of the loan and reflected in reduced repayments for the remainder of your loan term. Essentially, it’s our way of making sure your borrowing costs go down as your impact goes up.
Do loans need to be secured?
Not necessarily. If you have assets available, we’ll ask you to offer them as security. If you don’t, future contracts or trading revenue can be considered instead. We’re flexible because we know social enterprises don’t always fit the traditional security mould.
What happens after approval?
You’ll move into a legal due diligence phase where terms are finalised, agreements are signed and standard anti money laundering checks are completed. Once that’s done, your funds are deployed. Before your first reporting period, we’ll set up a loan assistance schedule to help you understand what’s required.
What support is available after the loan is issued?
Our team is here to help with reporting requirements, impact tracking, and any questions that come up along the way. You won’t be handed a loan and left to figure it out.
Can I apply if I'm not yet certified?
Yes. If certification with Social Traders, Supply Nation, or People and Planet First is in progress and your timeline aligns with the loan process, we encourage you to apply.
Who backs the SELF?
The SELF is backed by Westpac Foundation, Macquarie Foundation, the Australian Government, the Victorian Government, the English Family Foundation, and the Ian & Shirley Norman Foundation. These partners reinforce the fund’s mission to drive economic and social change through job creation.
