Social impact bank expected to hit £100m loan target » SMEInsider

Social impact bank expected to hit £100m loan target

Unity Trust bank, which specialises in lending to undeserved SMEs and social enterprises, are on track to exceed its £100m loan target by the end of this year.

By using its customer deposits to fund loans, Unity Trust has created housing, community assets and office space for social ventures. By 2015, Unity will have lent over £4m to Social enterprises.

Unity prides itself on lending large amounts of money to CDFI’s. During 2014, Unity lent £7.5m to 15 CDFIs that deliver funds to underserved SMEs, micro-businesses and individuals that are excluded from mainstream finance.

‘‘In 2013 we declared our £100m lending target over three years. We’re well on our way to meeting this and look to the future with anticipation and determination. As we continue to grow, we will continue working to increase our social impact, engraining our founding principles into every aspect of our business strategy,’’ said Peter Kelly, director of business development and marketing at Unity.