# Charity Bank lent £48.6 million in 2018

- Link: https://fundraising.co.uk/2019/05/16/charity-bank-lent-48-6-million-in-2018/
- Published: 2019-05-16T09:00:09+01:00
- Author: Melanie May

**Charity Bank lent £48.6 million to charities and social enterprises in 2018, it
has revealed. **

This was a 43% increase from 2017, when it lent £34.1 million, and means it has 
lent over a quarter of a billion (£270 million) since 2002.

Last year’s loans included £21.2 million to support housing and local facilities
projects; £12.1 million for the provision of arts, heritage, sports and faith, and
£7.9 million towards employment, training and education.

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According to [Charity Bank](https://charitybank.org/), which announced the figures
at its AGM this week, all of the charities and social enterprises polled said their
Charity Bank loan helped deliver their mission and over half (54%) of borrowers 
had also unlocked additional funding from other sources as a result of the Charity
Bank loan.

Motivations of borrowers were:

 * Needing or wanting to acquire facilities or fixed assets, like a new building(
   72%)
 * Innovation (56%)
 * Wanting to grow (56%)
 * Wanting to diversify income and improve sustainability (48%)

Ed Siegel, Chief Executive at Charity Bank 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.
> “This lending wouldn’t be achievable without our savers – these are people who
> choose to save and invest for good to drive social change for those who need it.
> Major social change is only possible if money is invested in ways that benefit
> society. Growing our community of investors and savers who choose to invest for
> good is a vital part of our mission and impact. We encourage people to think about
> where their money is going. Our ultimate goal is a world in which everyone is 
> a social investor or saver.”

Charity Bank’s 2019 impact report [Money on a Mission](https://charitybank.org/uploads/files/CharityBank_Social_Impact_Report_2019.pdf)
is available as a pdf.

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