Charity sector to benefit from Unity Trust Bank £50m Social Economy Fund
28 Nov 2007
Unity Trust Bank is pleased to announce that it has made £50m available to support the launch of a new Social Economy Fund.
Unity, which is already established as the lender of choice for the Third Sector, has formed the fund to meet the growing demand it is experiencing for access to loan finance to support the increasing working capital requirements of charities, voluntary organisations, social enterprises and other social purpose bodies.
Adrian Oldman, Head of Marketing and Communications for Unity Trust Bank said, “We are really pleased to have been able to make this money available. We have noted an increased demand for access to this type of borrowing over the last year and have formed the Fund to ensure that the requirements of our new and existing Third Sector clients are met. The rates and terms associated with the new finance will of course be tailored to the needs and circumstances of our borrowers. We look forward to continuing our long and established relationship with the Sector through the roll out of these new arrangements.”
Existing and new clients of Unity Trust Bank wishing to discuss the Social Economy Fund should contact Mark Davies, Charities Manager, in the first instance. He can be reached on 0121 616 4301 or by email at mark.davies@unitygroup.co.uk .
Media contacts
Hayley Brent-Isherwood, CO3, hayley@co3.coop 020 7785 6282 or 07909 544817
Tim Purcell, CO3, tim@CO3.coop 020 7785 6281 or 07904 056668
