We've put together a series of loan features tailored to the unique requirements of social sector organisations. Find out all you need to know when considering a loan for your charity or social enterprise.
Debbie Harmsworth, loans administration manager at Charity Bank, shares five common legal issues for charities & social enterprises to consider when seeking loan finance. Being aware of these issues may help you to avoid some of the common problems & delays.
Your money is covered by the Financial Services Compensation Scheme
Your eligible deposits with Charity Bank are currently protected up to a maximum of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Total balances above £85,000 are not protected.
For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).
Deposits from large companies and small local authorities are covered by the FSCS deposit protection from 30 January 2017 up to a maximum of £85,000.
Visit the FSCS website for more information or call the FSCS on 0800 678 1100 or 0207 741 4100.