Second Shot Coffee
From an article by Good Finance
When Julius Ibrahim became increasingly more interested in tackling homelessness, backed by social investment, he opened Second Shot Coffee, a social enterprise café in East London.
Second Shot Coffee believes that anyone coming into the café shouldn’t have to sacrifice anything from their customer experience. And as Julius explains, the social impact the café provides is a bonus.
Second Shot Coffee trains, employs and supports people affected by homelessness. The social enterprise also has a ‘pay it forward’ system, which means customers can pre-pay for drinks or food that a rough sleeper can get a free coffee or meal at a later point.
One of the main challenges to make the social enterprise a reality was in getting the initial funding for it. But Social Investment Tax Relief (SITR) was a game-changer. Repayments on SITR investments don’t start for at least three years after the investment is made. It allows eligible social enterprises and charities to access unsecured investment – either via loans or equity. Second Shot Coffee is a Community Interest Company (CIC). To date, they have raised £100,000 using SITR through a direct deal.
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