Organisation overview

Founded in 1999 as a church response to homelessness, The Ferry Project provides homes and support for people affected by homelessness across the Fenland area, in rural Cambridgeshire.

Based in a refurbished Grade II listed hotel in the centre of Wisbech, the Ferry Project supports around 300 people each year through emergency accommodation, specialist units, move-on housing, outreach, counselling and employment support. The same site houses a community centre, gift shop, art gallery and cookery school, generating income while giving people experiencing homelessness, vocational skills and work experience.

Why social investment

In 2021, the Ferry Project launched an ambitious three-year, £1 million project to transform services and accommodation, redesigning the entire building around client need. The plan included creating distinct, specialist units within the same site for women, short-term residents, longer-term residents and people experiencing multiple disadvantage.

Grants and fundraising covered 90% of the costs, but a funding gap remained. The Homeless Link Thrive Together Fund bridged it, providing:

  • a £112,500 loan over 72 months, with 12 months interest only
  • a £37,500 grant

The Thrive Together Fund was a contribution towards the bigger refurbishment, but the investment was used specifically to convert storage spaces and offices into four self-contained women-only units.

Why it worked

The Ferry Project had not taken on social investment before, but with the right model and a clear plan, it worked:

  • Securing social investment signalled credibility to other funders and unlocked other funding opportunities.
  • A financially experienced board, including an accountant, had the skills to scrutinise the plan and back it with confidence.
  • The application process was straightforward - simpler than some grant applications.
  • Trustees were assured with the blended finance model and a grant subsidy, that it was a cost-effective way of securing affordable funding.
  • There was a clear business plan, guaranteed demand for services and accommodation and the ability to generate an income (plus an annual surplus) to repay the loan.

Outcomes and impact

Social investment helped the Ferry Project to:

  • Create Sunrise Haven - four self-contained women only units providing safe and gender-informed accommodation.
  • Generate rental income from converted storage and office spaces directly funding loan repayment and creating a surplus.
  • Refurbish emergency winter accommodation.
  • Maintain regular service provision during refurbishment.
  • Unlock additional funding to grow a portfolio of seven distinct types of accommodation, giving every client a tailored path from crisis to independence.

"Social investment is an excellent way to access funding for assets that in turn create income. We all consider loans for personal use - there is little difference for charity use. Consider all possible avenues to help clients. Social investment is one of them." Keith Smith, former CEO

Key learning for other organisations supporting people experiencing homelessness

  • Prove the demand first

Ensure there is sufficient demand for your service and that income is reliable before taking on borrowing. Confidence to support repayments is essential.

  • Be clear on repayments

Fully understand the terms of the investment and repayment expectations. Seek financial advice where needed to ensure commitments are realistic and manageable.

  • Don't fear the process.

Applying for social investment can be more straightforward than expected. In some cases, the process may be simpler than grant applications.

  • Use it to access more

Securing social investment can demonstrate your organisation’s credibility to other funders and help unlock additional sources of funding.

  • See it as one tool

Social investment works best as part of a broader funding mix.  Combining different income sources could strengthen resilience and reduce reliance on a single approach.

  • Talk to peers

Engage with other organisations that have used social investment. Learning from their experience can build confidence and provide valuable, practical insights.

Looking ahead

The Ferry Project is looking to grow its property portfolio further and would consider social investment again. The Sunrise Haven project proved that borrowing, when done carefully, with a clear repayment route, is a straightforward and effective tool for growth.