Support and Funding News: 11/02/2010
Ethical Bank Lending More To Social And Environmental Businesses
Ethical lender Triodos Bank’s funding commitments to social enterprises and environmental businesses grew by 73% during the past year.
The company, which uses the money saved by its customers to finance organisations that deliver social, environmental or cultural benefits, also saw its UK loan book increase 20% to a total of £248 million during 2009.
Lending to environmental organisations grew by almost a third to £73 million, while the bank’s commitments to not-for-profit organisations, including charities, housing associations and social enterprises, grew by 83%.
Overall lending in Scotland grew 54% to £37 million, with a key focus on the organic food and arts sectors, while Triodos’ loan book in Wales went above £20 million for the first time.
Dr Bevin Watts, Triodos Bank’s head of business banking, said:
“Several factors have fuelled the growth (including an) increasing demand for sustainable banking. We’ve also seen continued growth in several of our core markets and have diversified into key new environmental and social markets.”
To find out more about the loan funds and other services on offer from Triodos Bank, visit their website (opens a new window)
Source: Western Mail, 05/02/2010
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