CAF Bank have announced that members of Acevo, the charity leader’s network, can enjoy special loan discounts for their organisations as part of a new partnership.
Acevo members’ charities will receive a discount of 0.25% on CAF Bank loan rates for the initial 12 months from the commencement of the loan. Loan rates are negotiated individually for each proposal submitted and subject to accepted application and credit assessment.
With almost half of Acevo members surveyed in the flagship Social Sector Tracker saying they would consider taking on a loan for future investment, this is an opportunity to help turn their charity’s plans into a reality.
CAF Bank is wholly owned by Charities Aid Foundation, an international charity which last year distributed over £400m to charities.
CAF Bank offers loans for re-finance, property purchase and asset development, working capital or bridging/overdraft facilities are also available and suitable to assist in situations such as payment by results. Loan amounts range from £50,000 to £5m. To date, it has helped support a diverse range of charities including social housing, a heritage steam railway, education and faith-based charities.
Since the start of the year CAF Bank has approved nearly £30m in loans in order to help charities up and down the country fulfill their missions.
Examples include:
- The Howletts Wild Animal Trust, a charity dedicated to reintroducing endangered animals into their native habitat. The CAF Bank loan of £250,000 over three years gave them essential funds to start a luxury camping experience, freeing them up from relying on grants, donations or existing reserves , and turn their venture into a real revenue generator.
- Pathways, a social landlord, who needed a loan of £1m to redevelop properties to help them provide support for the vulnerable people they house.
- Colchester School of Gymnastics, who needed a loan of £200,000 to build an extension to their property, allowing them to double the number of people young and old using their facilities.
- Kent & East Sussex Railway, who chose to refinance their borrowing with CAF Bank, freeing up funds to continue their vital work of preserving the railway and offering a historical education about Britain’s industrial heritage.
Peter Ostacchini, chief executive at CAF Bank, said: “We’re thrilled to be working with Acevo to make access to finance even easier for charities. Being able to borrow money is becoming increasingly important for the sector as they change their ways of working and rely less on state funding.
“We have many years’ experience of working with the third sector and because we are part of the sector ourselves we always look to find the best possible ways to help our clients fulfil their missions. We hope this new partnership can help even more organisations make a difference.”
- CAF Bank Limited (CBL) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ. Registered under number 1837656. CBL is a subsidiary of Charities Aid Foundation (registered charity number 268369). Telephone calls (contact us on: 03000 123 456) may be monitored or recorded for security/training purposes and by calling you give your consent to this. Lines are open Monday to Friday 9am - 5pm (excluding bank holidays).
Content on this page is paid for and provided by the Charities Aid Foundation sponsor of the Guardian Voluntary Sector Network’s Charity Money hub.
