Intervention: Hampshire and Isle of Wight
Fund: Third Sector Investment Fund
Date of Investment: February 2018
Impact Area: Employment, Training and Education
Beneficiary Group: People experiencing long-term unemployment, People with learning disabilities, Vulnerable young people (including Care Leavers and NEETs), Ex-Offenders
The Wheatsheaf Trust was a charity based in Southampton. It provided support and employment services to adults and young people, as well as to more vulnerable groups such as refugees, ex-offenders, lone parents and people with disabilities.
After seeing a deterioration in Wheatsheaf’s performance and outlook towards the end of 2019, the Wheatsheaf board took the decision to pursue an orderly wind-down of the organisation.
To fund working capital requirement
The loan funded Wheatsheaf’s delivery of Work and Health Programme in the areas of the South of England subcontracted to it by Pluss
Bespoke employment support, principally for those who are unemployed and have health conditions or disabilities
SASC provided a loan to fund Wheatsheaf’s delivery of the Work and Health Programme in the areas of Hampshire and the Isle of Wight
Most WHP referrals will be affected by a health problem or disability but will also include ex-offenders, care leavers, ex-armed forces and long term unemployed
WHP is contracted out by the Department for Work and Pensions through a combination of a fixed fee for service and on a payment by results basis
