Charity Bank to run £5m social investment fund

Finance | Tania Mason | 26 Nov 2009

CharityBank has teamed up with Liverpool Vision, the city’s economic development company, to set up a £5m investment fund to support community enterprises in one of the city’s poorest areas.

The two partners are inviting businesses, individuals and other organisations to use some of their savings or reserves to open a bond, which can then be lent to civil society groups operating in North Liverpool (pictured) and South Sefton, creating jobs and inward investment. Loans will range from £50,000 to £2m and interest will be charged at normal CharityBank rates.

The Liverpool Sefton Social Investment Bond is a guaranteed savings fund offering interest rates ranging from 0.5 per cent to 2.5 per cent depending on the sum invested and the notice period required. The minimum stake is £1,000 and deposti terms are 12 or 36 months.

Liverpool Vision’s director of investment and enterprise, Mike Taylor, described the bond as “an alternative form of philanthropy, in that people don’t have to give their money away to support good causes”.

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