Charity Banks gets £5m boost from Power to Change
The deposit will increase Charity Bank’s lending capabilities, improving access to finance for charities and social enterprises. This is increasingly important, as 78% of those who borrowed money from Charity Bank say their project would not have gone ahead without it and 30% said it helped keep the organisation afloat.
Ed Siegel, Chief Executive at Charity Bank comments, “Responsible investment is an important and growing area of focus for many charities and social enterprises. This deposit from Power to Change will undoubtedly help us in our mission to provide social enterprises with the financial resources they need to help vulnerable people and communities across the UK, outcomes which, we understand, are supportive of the social objectives of Power to Change.”
Charity Bank is encouraging charities to invest their savings and investments ethically and in support of their mission, through its Money on a Mission campaign which launches today; you can read more about it here.