Foundation starts up charity loan scheme

The Esmee Fairbairn Foundation is believed to have become the first grant-making foundation in the UK to offer a charity loan scheme.

The foundation, in conjunction with Charity Bank, will issue loans totalling £3 million after amending its grants programme. The sum is in addition to the £26 million the organisation makes available through its grants fund. Charities can apply for loans of between £10,000 and £250,000.

"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.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in
Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +

Latest Jobs

RSS Feed

Third Sector Insight

Sponsored webcasts, surveys and expert reports from Third Sector partners


Expert Hub

Insurance advice from Markel

Safeguarding in the Third Sector

Safeguarding in the Third Sector

Partner Content: Presented By Markel

Safeguarding - the process of making sure that children and vulnerable adults are protected from harm - is a big concern for organisations in the third sector.

Third Sector Logo

Get our bulletins. Read more articles. Join a growing community of Third Sector professionals

Register now