£4m Investment Boost for Charity Bank to Fuel Continued Growth in New Lending

Charity Bank, the loans and savings bank for positive social change, today announced £4m in new equity investments from six new investors as well as an approved investment from its existing shareholder, Big Society Capital.  By leveraging these investments with deposits, the bank will be able to make more than £32m in new loans to UK charities and social enterprises at a time when the social sector is in acute need of sustainable financing solutions. The Garfield Weston Foundation (£1m investment), The Clothworker’s Foundation (£1m), Bank Workers Charity (£250k), Places…

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Charity Bank Secures £1million In Equity Capital Investment To Help Fund Surge In Loan Approvals

Charity Bank, the loans and savings bank for positive social change, has secured £1m in new equity investments from two investors.  The Samworth Foundation has become the newest shareholder of Charity Bank with an investment of £500k.  In addition, existing Charity Bank shareholder, Barrow Cadbury Trust, has increased their total investment in the bank by £500k to £750k. The new investments are timely, coming as Charity Bank announces record new lending commitments in H2 2020, approving £49m of loans, the highest amount of new loan approvals over a six-month period…

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Charities And Social Enterprises Forced To Pull Back On Services Amid Income Reductions

The events of 2020 have forced charities and social enterprises to reduce their services in the face of declining revenues, new research from Charity Bank reveals.  The loans and savings bank for positive social change polled more than 100 of its charity and social enterprise customers to understand how they have been impacted by the pandemic this year.  COVID-19 has had significant financial implications with 58% of respondents seeing their income reduce. 1 Almost half (49%) feel that they have been unable to effectively deliver services, while 52% have delayed…

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Charity Bank secures new investment as it seeks to double its lending

Charity Bank, the loans and savings bank owned by and committed to serving the social sector, has secured a £500,000 investment from Esmée Fairbairn Foundation as part of its drive to raise share capital. Having recently raised almost £5 million in subordinated debt, Charity Bank is now focused on attracting an additional £10 million in new equity investment from charities, trusts and foundations. The £500,000 investment from Esmée Fairbairn Foundation comes from converting an existing loan note into share capital and marks the first investment of this new issuance of…

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Charity Bank launches its State of the Sector report

The social sector is feeling the pressure of meeting an increase in demand for services, while dealing with widespread budget cuts, research from Charity Bank reveals. Charity Bank polled 182 social sector leaders for its State of the Sector report, released today, and found that 85% of charities expect demand for their services to grow over the next two years. However, 86% are concerned about future grant funding and 82% don’t think they’ll be able to sustain donations over that period. Government policy continues to pose a challenge for 63%…

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