The Trinity Sailing Foundation has secured a £40,000 loan from Charity Bank to buy a sailing trawler to provide training for socially disadvantaged and disabled young people. The foundation needed £135,000 to buy the ship, which it had been operating and restoring on behalf of the owners for several years. Most of the money was raised in an appeal, but a private lender had provided an interest-free bridging loan which had to be repaid. Charity Bank agreed to refinance the loan.
Trinity's managing director Struan Coupar said: "We calculated that we would be able to clear the loan through fundraising and operating surpluses within two years. Charity Bank was able to provide a six-year loan, which has significantly reduced the pressure on us."