CASE STUDY
THE RIDGE FOUNDATIONS
LOAN AMOUNT: £20,000
Background
The Ridge Foundations CIC is a construction company and social enterprise in Dunbar formed in 2016 as part of the Ridge SCIO charity. The core focus of The Ridge Foundations is to provide high quality training in traditional skills and supported employment for those who would otherwise struggle to access or sustain either, particularly in areas of geographical isolation in the East Lothian region.
As a CITB (construction industry trade body) registered company, and SQA (Scottish Qualifications Association) centre, The Ridge Foundations offer modern apprenticeships, alongside qualifications such as the ‘National Progression Award in Construction’ for local school pupils and for unemployed adults. The social enterprise also has a close working partnership with East Lothian Council and the regional Jobcentre Plus.
What was the loan used for?
Receiving a loan from Co-op Loan Fund has meant The Ridge Foundations are now able to purchase a van replacing their existing vehicle sustaining transportation and access for the organisation and trainees.
One of The Ridge Foundations projects includes ‘Building Four’ located at Black Bull Close in Dunbar where the local building is currently being used by students working on the joinery element of the NPA in Construction on the ground floor, while hemp plastering work is carried out upstairs in the building. The invaluable use of the building ensures students can work on their own projects and hone their skills outside of college and other working environments.
To find out more about worker-owned co-op loans please contact:
info@coopfinance.coop
Investment in young people and their communities
We are supporting the next generation of community co-ops and investing in areas where younger people are striving for meaningful change and a better world to live in and contribute to.
Co-op Loan Fund provides an altogether different route to ethical loan finance for community co-ops across the UK with unsecured loans and no personal guarantees up to £85,000 with ongoing advice and support and no set lending terms.