The strength of Charity Bank’s support to charities and social enterprises has again been confirmed by record loan growth announced today.

Outlining its results for the first 6 months of 2010, Charity Bank revealed that loans agreed to charities and social enterprises totalled £20,932,750 – compared to £22,902,216 achieved during the whole of 2009.

Chief Executive of Charity Bank, Malcolm Hayday said: “Over the past six months we have been able to increase our funding to charities and social enterprises.  Some of the organisations we have supported have come to us because their funding has been withdrawn, while others have been attracted by the certainty and service we offer.

Hayday added: “We remain open for business and are actively encouraging applications from the sector.  As the public spending cuts come into effect we will continue to maximise our support to enterprises that are making a real difference to the communities and people they serve.”

Charity Bank also announced that deposits have increased by £5.3 million in the first 6 months of 2010, and now stand at £49.6 million.

Preferential loan rate announced

Charity Bank has also announced that it will be offering charities and social enterprises a preferential rate (a 0.5% reduction in its existing lending rates) for new loans drawn before the 31st December 2010.

To find our more about Charity Bank loans to charities and social enterprises visit www.charitybank or call 01732 774050