The Foundation helps people overcome barriers to employment. It provides work opportunities and support services as a stepping stone towards mainstream work.
Social Problem
People can have difficulties accessing employment opportunities for a wide range of reasons. Some of the core groups the Jericho Foundation works with include people who are in substance misuse recovery programmes, who have recently come out of prison, who lack formal qualifications or experience, and victims of modern slavery.
Solution
In order to help people get a break within the job market, the charity operates a platform through which it provides training, supported employment, work experience and apprenticeships. After a period of time within these supported programmes, it then helps clients transition into mainstream employment.
Loan
During a period of restructuring in 2018, the charity decided to streamline its finances. It took out a loan of £700,000 with Charity Bank in order to consolidate its existing loan finance.
Impact
Through simplifying its loan finance in this way, the Jericho Foundation was able to save money on monthly interest repayments and put the organisation in a strong financial position. It has enabled the charity to plan for the future and be confident in its ability to manage any challenges that may arise.
“Charity Bank really gets our organisation and what we’re trying to do. They’re very aligned in terms of values and also are just really nice people to work with. Not all bankers fall into that category!”
Richard Beard, Chief Executive, Jericho Foundation
About Charity Bank
Charity Bank is the loans and savings bank owned by and committed to supporting the social sector. Since 2002, we have used our savers’ money to make more than 1,000 loans totalling over £300m to housing, education, social care, community and other social purpose organisations.
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