The first £1m loan has been approved by the Charity Bank in the Yorkshire and Humber region for Newlands Community Association.

This brings the total loan funding approved by the bank to charities across the region to £15m.

The Newlands Community Association, which supports the voluntary sector and general community leadership, is now able to move forward with its plans to build a new community hub and relocate to a different business centre.

Tony Holdich, CEO of the Association said: "It is immensely satisfying to be able to now forge ahead with our plans.　 Thanks to the loan from Charity Bank together with the support from Yorkshire Forward, Bradford Council & Social Investment Business, we are now able to fulfil our ambition to establish ourselves as a community anchor in East Bradford.

"We chose Charity Bank because they understood our plans and wider mission. They were able to work flexibly in partnership with our other funders."

Charity Bank, which specifically finances charities and social enterprises, has now approved £120m in loans nationwide.

Claire Trenaman, lending manager at Charity Bank said: "Newlands Community Association provides vital services to local organisations and residents".　

"In times of difficult economic conditions, it is essential that organisations like NCA are given every support and opportunity to grow and prosper in their role serving the local community.

"We are pleased to be part of their ambitious programme to build a community hub and enterprise centre."