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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Charity Bank tops ethical banks table for thirteenth successive year

For the thirteenth year running Charity Bank has been awarded the top spot in the Ethical Banks and Building Societies Ethical Comparison Table 2019, according to The Ethical Company Organisation’s Good Shopping Guide. Ecology Building Society and Triodos Bank follow in second and third place, whilst many high street banks feature towards the end of the table. Ethical Banks & Building Societies‍‍‍ Ethical Comparison Table – see the full table here. © The Ethical Company Organisation The Ethical Company Organisation’s researchers monitor the ethics of companies across a wide range…

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Charity Bank reaches 1000th loan milestone

Charity Bank, the loans and savings bank owned by and committed to serving UK social purpose organisations, is today announcing that it has issued its 1000th loan. This marks an important milestone for the bank and its charity and social enterprise borrowers, as well as the investors and depositors that have supported Charity Bank and its mission since it was launched 17 years ago. Charity Bank supports the UK social economy by using savers’ funds to finance loans for charities and social enterprises, helping them to fulfil their missions and…

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