# Charity Bank receives £2.75mn investment to expand reach

- Link: https://fundraising.co.uk/2023/07/07/charity-bank-receives-2-75mn-investment-to-expand-reach/
- Published: 2023-07-07T08:55:00+01:00
- Author: Melanie May

**Charity Bank is to receive £2.75mn in investment from Access – The Foundation 
for Social Investment, which has committed the money as part of its Flexible Finance
for the Recovery programme.**

The funding package will help it reach underfunded charities and social enterprises
and comprises a £1mn investment in the shares of the bank and £1.75mn in grant funding.

[Charity Bank](https://www.charitybank.org/) will use the Access investment with
its own funds to develop a portfolio of smaller loans with more flexible terms. 
The funding from Access will also enable Charity Bank to offer blended finance packages
of loans and small grants to its customers.  Under the Access-funded loan programme,
the bank also expects to significantly increase the range and diversity of organisations
supported and will set specific targets for reaching ethnically diverse enterprises
and other groups that have experienced exclusion from social investment.

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Ed Siegel, CEO at Charity Bank said:

> “We’re excited by the immense impact potential we can unlock as we extend our 
> reach to organisations that in the past have been overlooked by traditional lending
> criteria. The blended finance programme that we are rolling out as a result of
> the investment from Access is a key initiative under our updated, impact-led strategy.
>  
> “Charity Bank want to be the lender of choice for UK impact-driven organisations
> whilst also meeting our wider ambitions to increase the diversity of our lending
> and specifically seek out those organisations that are addressing the greatest
> needs of our society and our planet.”

Seb Elsworth MBE, Chief Executive at Access said:

> “We know that charities and social enterprises can often struggle to access mainstream
> finance. The investment made in Charity Bank, through our Flexible Finance programme,
> will broaden the availability of patient and affordable finance available to charities
> and social enterprises and will help support Charity Bank itself to develop and
> grow its offer to organisations that have been excluded from social investment
> in the past.”

In June, Charity Bank announced that it had achieved a [record financial result in 2022](https://fundraising.co.uk/2023/06/09/charity-bank-to-reinvest-2022s-2-7mn-profit/),
with a profit of £2.7mn – and that it would be reinvesting all of it to further 
its mission and extend its reach to underfunded charities and social enterprises.
It also revealed that it had disbursed a record £53.9mn in new loans.

 * **[Charity Bank to host free seminars on investment and growth](https://fundraising.co.uk/2014/05/07/charity-bank-host-free-seminars-investment-growth/)**(
   7 May 2014)
 * **[Charity Bank launches campaign to promote charities’ good work](https://fundraising.co.uk/2016/03/10/charity-bank-launches-campaign-promote-charities-good-work/)**(
   10 March 2016)
 * **[Big Society Capital invests further £5 million in Charity Bank](https://fundraising.co.uk/2016/10/07/big-society-capital-invests-5m-charity-bank/)**(
   7 October 2016)