Further growth in loans to sector by Triodos and Charity Bank

Finance | Tania Mason | 20 Jul 2010

Two of civil society’s most prominent retail lenders have seen excellent growth in the amounts they lent to organisations in the first six months of this year.

In the first half of 2010, Charity Bank agreed loans to charities and social enterprises totalling £20.9m – almost as much as the entire £22.9m approved during the whole of 2009.

Chief executive Malcolm Hayday (pictured) said the bank was still “actively encouraging” applications and would seek to maximise its provision of finance to the sector as public spending cuts take effect.

Charity Bank also announced that deposits have increased by £5.3m in the first six months of the year to £49.6m.

It is now offering a preferential rate to charities and social enterprises that draw down new loans by 31 December, at 0.5 per cent lower than existing lending rates.

Triodos loan book up 14 per cent

Triodos Bank loans grew by 14 per cent during the six months, taking total UK lending to £282m, up £34m since the end of 2009. This compares with growth of £41m during the whole of last year. Loans to social bodies now exceed £225m.

Housing associations and healthcare organisations were the largest single areas of growth for Triodos.

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

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