The Wheatsheaf Trust is a charity based in Southampton providing support and employment services to adults and young people as well as bespoke support to more vulnerable groups.
SASC has provided a £300,000 loan to fund the working capital requirement for Wheatsheaf’s delivery of the Work and Health Programme in the areas of Hampshire and the Isle of Wight.
The Work and Health Programme (WHP) was launched in January 2018 to provide bespoke employment support, principally for those who are unemployed and have health conditions or disabilities. The programme targets people who with specialist support are likely to be able to find work within 12 months. Given its strong track record of delivering successful employment outcomes, Wheatsheaf has been selected as a subcontractor to Pluss CIC, the social enterprise delivering the WHP in the South of England.
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. TSIF is providing a £300,000 loan to Wheatsheaf to cover its working capital requirements as costs are taken on before income begins to flow. SASC has structured a cost effective and innovative facility which elevates the charity as the provider of services. The terms of the loan allow for SASC to share in some of the upside when the programme does well while providing some protection in the downside.
Wheatsheaf has a strong track record of providing employment support with successful outcomes to a range of individuals. Most staff have advanced training qualifications with one third of advisors having come to Wheatsheaf in a vulnerable situation themselves. 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. Wheatsheaf aims to work with over 4000 job seekers over the 5 year contract to support them into sustained employment.