The U.K.-based financial institution invested £2.5 million ($3.2 million) on top of the £12 million it earlier put into Charity Bank, a lender dedicated to charities and social enterprises. That brings Big Society’s ownership share up to 60.5 percent.
Charity Bank offers loans of £50,000 to £2.5 million. It has lent £140 million since 2002 and has approved £28 million in loans so far this year. Charity Bank is owned by trusts, foundations and social organizations, alongside Big Society Capital.
Big Society Capital won’t be acting like a majority shareholder: it voluntarily capped its voting rights at less than 50%.
Big Society Capital takes majority stake of Charity Bank was originally published in ImpactAlpha on Medium, where people are continuing the conversation by highlighting and responding to this story.
This post was originally published on ImpactAlpha.com
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