2019 lending results
In 2019 Co-op Loan Fund provided seven new loans totaling £322,500.
Since the fund started in 2002 it has lent very nearly £5m to 173 co-operatives throughout the UK.
When the loans are repaid the money is lent again to other co-operatives. Six loans were fully repaid during 2019. At the end of the year the fund was worth £1.44m with £1.1m out on loan and £344,000 available to lend.
Co-op Loan Fund made another small operating surplus in 2019 which was reinvested into the fund. This means that all of our donors’ funds were available for lending and were not spent on administration.
Ian Rothwell, Investment Manager of Co-operative & Community Finance which manages Co-op Loan Fund, said: “It has been another busy year for Co-op Loan Fund with a wide variety of lending from a craft brewery in Northern Ireland to a bike recycler in Carlisle, a co-op that produces products and information to promote active travel in Kettering to a credit union in Bristol, an organisation that provides support for survivors of domestic abuse and sexual exploitation in Rotherham to a wholefood and zero waste shop in Hebden Bridge. Our lending shows that there is real variety in the co-op sector and thanks to the co-op societies that continue to support the fund we are able to nurture this diversity.”