# Charity Bank announces record loan growth & new campaign to reduce loan costs

- Link: https://fundraising.co.uk/2018/04/09/charity-bank-announces-record-loan-growth-new-campaign-reduce-loan-costs/
- Published: 2018-04-09T10:00:46+01:00
- Author: Melanie May

**Charity Bank has lent over £15.2 million to the social sector in the first three
months of 2018, it has announced: more than any previous quarter in its history.**

[Charity Bank](http://www.charitybank.org) offers loans to small and large charities
and social enterprises. Since 2002, it has lent over £215 million to over 650 social
sector organisations, while its loan book has grown by over 120% since the start
of 2015. Its record growth in the first quarter of 2018 follows three consecutive
years of record lending to the social sector. In 2017 Charity Bank lent £34.1 million
to organisations within the sector, following 2016’s £27.9m, and 2015’s £24.7m.

Charity Bank has also announced the launch of its [Bank On Us ](http://www.charitybank.org/BankOnUs)
campaign to help reduce the costs associated with taking on a new loan and refinancing
an existing loan. The campaign follows its February announcement that it has increased
the interest rate paid on its Ethical Easy Access Account.

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Patrick Crawford, Chief Executive of Charity Bank, said:

> “Despite the challenging and uncertain outlook, charities and social enterprises
> have continued to take on new projects to address social needs. The resulting 
> loan demand from the social sector has continued and shows no sign of slowing.
> “Our Bank On Us campaign is part of our pledge to continue to work side-by-side
> with social sector organisations seeking to use loan finance to make a bigger 
> difference.
> “By reducing the costs associated with taking on a new loan and refinancing an
> existing loan, we aim to give a little extra back to the charities and social 
> enterprises we have the privilege to work with every day as they help the disadvantaged,
> enrich lives and improve communities.”

 * **[Charity Bank launches campaign to encourage using ethical providers](https://fundraising.co.uk/2018/09/17/charity-bank-launches-campaign-encourage-using-ethical-providers/)**(
   17 September 2018)
 * **[Charity Bank issues 1000th loan](https://fundraising.co.uk/2019/11/12/charity-bank-issues-1000th-loan/)**(
   12 November 2019)
 * **[Charity Bank raises nearly £5 million in subordinated debt](https://fundraising.co.uk/2019/11/28/charity-bank-raises-nearly-5-million-in-subordinated-debt/)**(
   28 November 2019)

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