| Not-for-profit
Charity Bank has announced that since its launch in October
2002, it has agreed loans worth over £50 million to
more than 500 charitable organisations.
The Bank said its balance sheet totals had more than doubled
in 2005 to £38 million, having since grown to £40
million, largely from increasing interest in its Community
Investment Tax Relief savings account.
The bank’s chief executive, Malcolm Hayday, said:
“Ten years ago we had £500,000 to lend. Reaching
the £50 million mark demonstrates beyond any doubt
that our belief in the need for affordable, flexible and
specialist banking to serve charitable organisations was
well founded.”
For further information on loan potential visit www.charitybank.org
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