Secured loans up to £500,000

Charity Bank has very limited appetite for unsecured loans which are normally only available through specialised funding programmes that may be announced from time to time.

Once you have submitted an enquiry and if we think our loans are right for you, we will ask you to send more information. This will include:

• Financial Statements for the past 3 years (including income and expenditure and balance sheet).
• Management accounts covering the period since the last full year end (including income and expenditure and balance sheet).
• A financial budget for the current year (forecast income and expenditure)
• Financial forecasts for the next two years (income and expenditure).
• A brief summary of the professional experience of your Board and Senior Management team.

Typical terms for a secured loan under £500k are:

• Amount:
  • Up to 70% Loan to value for residential property
  • Up to 65% Loan to value for commercial property.
• Interest rate: 3.6% above base rate.
• Term: Up to 25 years.
• Arrangement fee: 1.95% of the amount borrowed.
• Commitment fees: No commitment fees apply.
• Early prepayment fees: No early prepayment fees apply unless loan is refinanced with another provider.
• Security: A first legal charge over property assets.
• Valuation Report: A professional valuation report is required for secured loans. Fees will be paid by the borrower.
• Legal Fees: Legal fees associated with the loan including legal due diligence and putting in place the legal charge will be paid by the borrower

Once you have submitted an enquiry one of our regional managers will be in touch to discuss.

If we think that our loans are right for you, we will ask you to send us more information. This will include (as a minimum) the following information:

• Financial Statements for the past 3 years (including income and expenditure and balance sheet).
• Management accounts covering the period since the last full year end (including income and expenditure and balance sheet).
• A financial budget for the current year (forecast income and expenditure)
• Financial forecasts for the next two years (income and expenditure).
• A brief summary of the professional experience of your Board and Senior Management team.

We lend to organisations that meet the following criteria:

• Incorporated (Company, Community Benefit Society or Charitable Incorporated Organisation).
• Registered in the UK.
• Have a clear social mission delivering positive social impact in the UK.
• Trading for over 2 years.
• Able to demonstrate an ability to repay our loan.
• Are looking to borrow over £100k.