Social investment foundation Access has pledged to invest £2.7m in the Charity Bank, with £1.75m of the sum to be used for grant funding for charities and social enterprises.
The rest of the money is comprised of £1m worth share investment in the bank. Charity Bank has said it will leverage this investment from Access with its own funds to create a portfolio of flexible term small loans.
Charity Bank says it aims to increase the diversity of organisations it will support through the funding and specifically target ethnically diverse charities and social enterprises and other groups that have been historically locked out of social investment.
“We’re excited by the immense impact potential we can unlock as we extend our reach to organisations that in the past have been overlooked by traditional lending criteria,” said Charity Bank chief executive Ed Siegel.
“The blended finance programme that we are rolling out as a result of the investment from Access is a key initiative under our updated, impact-led strategy.”
Access chief executive Seb Elsworth added: “We know that charities and social enterprises can often struggle to access mainstream finance.
“The investment made in Charity Bank, through our Flexible Finance programme, will broaden the availability of patient and affordable finance available to charities and social enterprises and will help support Charity Bank itself to develop and grow its offer to organisations that have been excluded from social investment in the past.”
Latest News
-
Just under half of fundraisers are ‘usually or always’ stressed, survey finds
-
Minister backs Charity Commission leaders after MPs’ criticism
-
Changing allegiances emerge amid public’s growing belief in charities’ importance
-
Regulator launches class inquiry into charities working in illegal Israeli settlements
-
RNLI workers at closing site to strike over redundancy terms
-
Councils pay almost £3 for every £1 they cut from their spending on local charities
Beyond the funding squeeze: Using equities to secure your charity’s future
With charities facing increasing financial pressure and traditional income streams under strain, making investments work harder has never been more important. M&G’s Richard Macey and Michael Stiasny join Charity Times to discuss why equities remain a vital long-term asset class for charities, how organisations can balance income generation and growth, and the opportunities the current market environment may offer to help strengthen financial resilience.
Charity Times Awards 2023
Charity Times video Q&A: In conversation with Hilda Hayo, CEO of Dementia UK
Charity Times editor, Lauren Weymouth, is joined by Dementia UK CEO, Hilda Hayo to discuss why the charity receives such high workplace satisfaction results, what a positive working culture looks like and the importance of lived experience among staff. The pair talk about challenges facing the charity, the impact felt by the pandemic and how it's striving to overcome obstacles and continue to be a highly impactful organisation for anybody affected by dementia.
© 2021 Perspective Publishing Privacy & Cookies
Recent Stories