Below you can see a short video about the recent winner of the Charity Bank Most Innovative use of Loan Finance Award. Reviive is not only a winner, but also exists from the act of two charities coming together with common aims, to create a new Community Interest Company.
Reviive provides apprenticeships and placements for beneficiaries of the organisation, as well as working to generate profits to the two charities who provide the nucleus of the initiative.
A great exemplar of how charitable endeavour, through the use of Social Finance, can be the route to a grounded, effective and successful supplier of goods and services. In this case recycled and re-homed furniture.
Mary Locke, a Charity Bank impact assessment specialist, describes social loans as ‘…the grease that helps the wheel to turn’, but that it is not the wheel itself. The Social Finance borrowers do the work. A wonderfully distinct separation for the charitable sector.
Mary makes the point that in the not for profit sector, unlike in the private sector, it is effectiveness in supporting beneficiaries and the broad range of ‘social mission’ objectives that the loan finance should be assessed against for effectiveness.
The Charity Bank loan to Reviive was £50,000. Social Finance achieving great outputs!
