"We want to test demand for loan finance in the voluntary sector," said Margaret Hyde, director of the foundation. "I am not aware of any other grant-maker running anything similar on an official basis."
Charity consultant David Carrington believes the foundation is setting a precedent. "For a big organisation like this to set the loan scheme out as part of its social enterprise is pretty unusual," he said. "It took £100,000 to set up Charity Bank, so £3 million is an impressive amount."
See News in Focus, p12.