A Social Impact Bond (SIB) is a payment-by-results contract where social investors pay for your organisation to deliver a service – for example, helping homeless people to find a home. The Government repays the investors with interest if the service is successful.
We’re pleased to share the brand new SIB Provider Toolkit, a toolkit for delivery organisations. This is a new resource available on Good Finance developed by Think Forward.
What is the SIB Provider Toolkit?
The SIB Provider Toolkit is a set of tips, tools and resources created to help charities and social enterprises design and develop successful social impact bonds (SIBs). Maybe you’re responding to a call put out by a commissioner or an approach from an intermediary, or perhaps you’re working with an investor to initiate a SIB yourselves. Whatever the story, there could be complex concepts and delicate negotiations ahead.
The toolkit is the first of its kind aimed at providers, though wherever the idea first came from – provider, commissioner or intermediary – the toolkit can help its users develop a SIB with the best chance of success.
Who was involved in developing the toolkit?
The inspiration for the SIB Provider Toolkit, and the material within it, comes from ThinkForward. ThinkForward were one of the first organisations to complete a Social Impact Bond (SIB) in the UK. Since then, they have noticed a need for practical advice specific to delivery organisations (charities and social enterprises). They have gathered together their experience with that of others to develop a set of tips, tools and resources for the next generation of potential SIB providers.
The digitisation of the toolkit was made possible with support from the Department for Digital, Culture, Media & Sport (DCMS) and Bank of America Merrill Lynch.
We've decided to host the toolkit on Good Finance, as we know or audience (you) could find it very helpful on your social investment journey.
How can the toolkit help you?
Whether you're considering SIB for the first time, or you have already started your SIB journey, there is something in this toolkit for you:
1. Take the SIB QUIZ. Test your mindset, your programme and your organisation to explore whether a SIB be an appropriate financing tool for you to consider
2. Decipher the fundamentals with the SIB Basics guide. Find quick answers to questions such as: What is a SIB? What is the difference between a commissioner and an investor?
3. Dive into the details with the SIBs Step by Step guide. Access stage-by-stage tips, tools and resources for successfully developing and delivering a SIB