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.
Loans are not right for all projects or organisations, but trustees and managers of charities and social enterprises need to understand what loan finance can offer to determine if it is right for them.
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.