Leicester Social Economy Consortium Secures Vital Refinancing Deal with Charity Bank

Leicester Social Economy Consortium (LSEC), one of the largest social enterprises in Leicester, has successfully secured a £625,000 refinancing deal with Charity Bank, the loans and savings bank owned by and committed to supporting the charities and social purpose organisations. Earlier this year, LSEC faced a financial challenge when their previous loan provider ceased catering to loans under £1 million. Undeterred, LSEC actively sought a new partner and found a reliable ally in Charity Bank. The swift intervention of Charity Bank provided the necessary support through a refinanced loan, positioning…

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Charity Bank Launches 2023 Social Impact Report, Demonstrating Positive Change and Commitment to Social Progress

Charity Bank, the loans and savings bank for social good, is proud to unveil its 2023 Social Impact Report. The report showcases the remarkable achievements and transformative impact of Charity Bank’s loans on UK charities and social enterprises, emphasising the bank’s commitment to social progress. The 2023 Social Impact Report highlights several key areas where Charity Bank has made a significant difference: Reaching Underserved Communities: Charity Bank has prioritised serving the most deprived areas, where people face financial hardships, limited affordable housing options, and premature mortality rates. In 2022, 60%…

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Charity Bank Study Reveals Financial Impact of Loans on Charities and Social Enterprises

Charity Bank, the loans and savings bank for social good, has released a ground-breaking study showcasing the financial impact of its loans on charities and social enterprises. This first-of-its-kind study, incorporating data analysis and borrower surveys, provides valuable insights into the tangible benefits experienced by organisations supported by Charity Bank. Analysing Financial Metrics As part of the study, Charity Bank analysed financial metrics for 79 social sector borrowers over a four-year period from one year prior to the borrowers’ initial loan to three years following the loan. Key findings include:…

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Investment of £2.75m in Charity Bank to reach underfunded charities and social enterprises

Charity Bank, the loans and savings bank for positive social change, today announced that Access – The Foundation for Social Investment has committed to invest £2.75m in the bank as part of their Flexible Finance for the Recovery programme. The funding package is comprised of a £1m investment in the shares of the bank and £1.75m in grant funding which together will support the bank’s ambition to reach more charities and social enterprises that have historically faced barriers to accessing social investment. Charity Bank will leverage the Access investment with…

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Charity Bank Reinvests Profit to Reach Underfunded Charities

Charity Bank, the loans and savings bank for social good, today announced its annual results for the year ended December 2022. In 2022, Charity Bank also disbursed a record £53.9m in new loans, supporting UK charities and social enterprises. The bank expects to significantly increase the range and diversity of organisations supported in 2023, and will set specific targets for reaching ethnically diverse enterprises and other groups that have experienced exclusion from social investment. “Our strong financial performance will enable us to expand our lending activities, which will help us…

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