Charity Bank based in Tonbridge backs good causes to tune of £48m
11:12, 03 June 2019
updated: 11:16, 03 June 2019
The Charity Bank, based in Tonbridge, said that it has lent £48.6m to charities and social enterprises last year.
The figure was reported to the enterprise's annual general meeting. It is a 43% increase over the 2017 figure.
The Charity Bank, which has had its headquarters in Tonbridge High Street since 2005, has made 41 loans to Kent based charities and social enterprises since its launch in 2002.
Borrowers include The Bevern Trust, Imago, Parchment Trust and Folkestone Sport Centre Trust.
The ethical bank uses savers' money to back social enterprises that improve the quality of life.
Chief executive Ed Siegel said: “Access to funding is crucial in enabling charities and social enterprises across the UK to continue and expand their work.
"The growth that the Charity Bank team achieved in lending last year is a success story for all of the charities and social enterprises involved. More importantly though, it’s a lifeline for the vulnerable people and communities throughout the UK who benefit from what they do and whose lives are enriched by their work."
At the meeting, Alan Hodson was voted in as new chairman of the board, taking over from George Blunden who steps down after nine years.
