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Barclays supports Charity Bank

January 31 2007

by Briefing Staff
More companies should follow Barclays' lead and support forward-thinking organisations such as Charity Bank.

Barclays has given a boost to Charity Bank, a not-for-profit organisation that provides loans to voluntary and community groups at low-interest rates, with an investment of £1m. Charity Bank described the investment, part of the organisation’s £10m capital-raising programme, as a “big boost”. Contact Charity Bank 01732 774 040 www.charitybank.org; Barclays www.barclays.co.uk

Comment

Charity Bank is one of the unsung success stories of the last five years. For all that time, Briefing has been urging companies that provide funding – who often speak the language of community investment not donations – truly to adopt an investment mentality. That means thinking how they can get more ‘bang for their buck’, by putting at least part of their budgets into some sort of revolving fund for projects that can pay back loans.

Charity Bank is one vehicle, but there is a lot more to the social enterprise idea than funding. The UK government has various policy initiatives in this field, including creating a new legal form for such businesses, the Community Interest Company. More corporate contributors should be putting their money where their mouths are, and following the lead set by Barclays and a select band of other forward-thinkers.

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