£30m over five years loan fund announced for Welsh charities’ buildings
Howard Lake | 5 December 2012 | News
Unity Trust Bank and Wales Council for Voluntary Action (WCVA) have announced a loan fund offering £6 million each year for five years to help voluntary organisations finance new premises or refurbish existing properties.
The fund is open to WCVA members who can apply for loans between £250,000 and £5 million.
WCVA Chief Executive, Graham Benfield OBE, said: “This finance will provide opportunities for organisations to own their premises and develop an asset base. This will allow them to control their costs, tailor their facilities to the needs of the people that use their services and work towards a more financially secure future.
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“Increasingly we are also seeing the value of ‘community hubs’, and we envisage this fund helping to create a network of focal points within communities across Wales providing social and economic opportunities to local people.”
The first loan to be made through the new fund will be to Rhondda-based charity Valleys Kids, which will allow them to re-finance their purchase of The Pop Factory in Porth and help develop a residential centre for young people on the Gower.
www.unity.co.uk/wcva-loan-schemes
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.