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'Evergreen' loans launch
By Helen Warrell, Third Sector, 20 June 2007
Ethical banking expert Triodos has pioneered a new system of loans that will allow charities and social enterprises to repeatedly take out and pay back loans up to a fixed amount within a fixed time period.
The revolving credit facility, sometimes known as an 'evergreen' system, has been used before in commercial markets but has not previously been applied in the third sector. Social landlord Westlea Housing Association is the first charity to take up the offer. It will use the loans in its commercial subsidiary,...
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