Charity Bank has lent £1.25m to YMCA London South West (LSW). The loan will assist with the acquisition of a long leasehold interest in Olympic House in Wimbledon.

The acquisition of the leasehold will enable YMCA LSW to forge ahead with its plans to redevelop the entire site. These plans include the provision of 80 self contained units of state of the art accommodation, health and fitness facilities, provision for local children as well as a community space and cafe.

Stuart Leamy, director of finance at YMCA London South West said: “When we approached Charity Bank it was the middle of the credit crunch and our own bankers had just withdrawn their offer to lend.

“Charity Bank was immediately supportive and the loan is enabling us to move forward with our extensive development plans to meet the diverse needs of our local community.”