New loan opportunities

Finance | Ian Allsop | 1 Oct 2005

Charity Bank has announced the availability of £25 million in new loan funds for the charitable sector. It has raised the new funds from UK depositors after relaunching its Community Investment Tax Relief Account (CITRA).

The bank, which was publicly launched in October 2002, is the UK's first bank that is regulated by the Financial Services Authority and is also a registered general charity.

Since the launch of its pilot loan fund, Investors in Society, more than £31 million of loans have been agreed for 430 charities and community groups. Malcolm Hayday, chief executive of Charity Bank, said: "Many community organisations are cautious about seeking a loan but when they do they often find doors closed in their face or the hurdles too high to cross."

Visit www.charitybank.org, or email enquiries@charitybank.org

Directory: Charity Bank Ltd
Who's Who: Malcolm Hayday

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