Posted on 23rd November 2009
A new £5m investment fund to support social enterprises in Liverpool and Sefton has been launched this month by Charity Bank and Liverpool Vision, the city’s economic development company. The money will be raised through a guaranteed savings fund for private investors.
Money deposited in the ‘Liverpool Sefton Social Investment Bond’ will be invested in organisations working in areas of North Liverpool and South Sefton which is made up of six of the most deprived wards in the country, lagging behind other parts of Liverpool that are seeing economic growth. Business start-up and survival rates are well below those elsewhere in the city, and the UK average.
Malcolm Hayday, chief executive of Charity Bank, said, “The Bond offers savers a safe, secure and transparent way to support their local community without having to give their money away.
“It’s a great alternative for those who, in this economic climate, might be struggling to sustain their support for charity, because we can use their savings to fund these vital projects, and then they can get their money back when they want it. And unlike a donation which once spent, is gone, we can lend the money out again and again while it remains with us.”
The money raised by the Bond, from Charity Bank, will be used to offer loan finance from £50,000 to £2m to social enterprises and other community organisations in North Liverpool and South Sefton that are creating jobs and bringing economic investment, regeneration and development to the area.
Individuals or organisations interested in finding out more details can contact Charity Bank’s North West-based regional director, Simon Thorrington. Alternatively ring 01732 774040 or email enquiries@charitybank.org
